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  • AM Best upgrades Markel Intl to A
    Markel Group has seen AM Best upgrade its financial strength rating on its London-based platform Markel International Insurance Co Ltd.
    30 July 2007
  • CEO Horbelt leaves Zurich’s Centre
    Senior run-off figure Oliver Horbelt has left insurance giant Zurich Financial Services, Insider Week can reveal.
    30 July 2007
  • QBE frustrated by Names’ exit expectations
    QBE has demanded major reform at Lloyd’s after complaining that the Society’s members’ agents refused to recommend an increased bid to buy out Names’ capacity on its flagship Syndicate 386.
    30 July 2007
  • Beazley shares climb on record interim profits
    Shares in Lloyd’s (re)insurer Beazley Group plc rose by almost 6 percent this morning (30 July) as it reported a doubling of profits in the first half of 2007 on the back of income growth, low claims and rising investment income.
    30 July 2007
  • Bassett leaves Montpelier in Guy Carpenter link
    Retro specialist John Bassett has been linked with a return to reinsurance broker Guy Carpenter after parting company with Bermudian Montpelier Re, Insider Week sources can reveal.
    30 July 2007
  • Reinsurers treating UK flood losses as separate events
    The final cost of this summer’s UK floods on the reinsurance industry is still unknown but there is little doubt that they will be treated as at least two distinct losses.
    30 July 2007
  • IPC shares continue slide on Q2 cats
    Shares in IPC Holdings have continued to slip as the Bermudian cat reinsurer followed last week’s profits warning with confirmation of second quarter net hits of $62.6mn and $50.1mn respectively from UK and Australian storms and flooding in June.
    26 July 2007
  • Novae upbeat as forecast improve
    Lloyd’s insurer Novae has issued an upbeat trading statement with improvements to its syndicate forecasts, a decrease in run-off expenditure and a better-than-expected assessment of the rating environment.
    25 July 2007
  • Montpelier grows platform, shrinks premium
    Montpelier Re Holdings Ltd reported stable second quarter operating profits of $54mn as it took a $30.5mn hit from UK and Australian flood losses in the period, partially offset by reserve releases and an increase in investment income.
    25 July 2007
  • Validus sets lower IPO price at $22
    Bermudian (re)insurer Validus Holdings will make its debut on the New York Stock Exchange today (25 July) with shares priced at $22, below the $24-26 range it set at the beginning of the month.
    25 July 2007
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