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  • UK regulator the Financial Services Authority (FSA) has confirmed Hector Sants as its new chief executive in an internal appointment.
  • Broking giant Aon Corp has said it is in discussions with Chubb Corp over the possibility of accepting supplemental compensation from the US insurer.
  • US insurer Farmers Insurance Exchange has acquired the right to issue $500mn of regulatory capital if it suffers a severe US natural catastrophe loss in the next five years in a pioneering transaction first reported by The Insurance Insider last week.
  • Insurance giant Allianz SE and its core operating companies have been upgraded from AA- to AA by Standard & Poor’s (S&P) as a result of “major and sustained” improvements in its operating performance.
  • Tawa Group is set to float on London’s Alternative Investment Market (AIM) and become the first non-life run-off consolidator to list in London.
  • Bermudian (re)insurer XL Capital has appointed Brian Nocco as its new chief financial officer.
  • In an announcement that will come as good news to early entrants to the Chinese reinsurance market, the China Insurance Regulatory Commission has predicted that demand for reinsurance is expected to reach 100 billion yuan ($13.2bn) by 2010 when total prem
  • London market broker Jardine Lloyd Thompson has announced the appointment of Ron Hayes as managing director of its Global Risk Solutions Division.
  • QBE Insurance (Europe), subsidiary of Australian (re)insurer QBE Insurance Group Ltd has announced its intention to form QBE Switzerland with the acquisition of two Swiss motor insurance businesses.
  • Integro Ltd CEO Roger Egan has sued former employer Marsh & McLennan Cos Inc (MMC) alleging he was not properly compensated after being axed by the company in the aftermath of the 2004 bid-rigging affair.