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  • US politicians brought some relief to the (re)insurance industry on Friday (18 November) with the news that the US Senate had approved a bill to extend the Terrorism Risk Insurance Act (TRIA) for a further two years until the end of 2007.
  • A significant rise in revenues boosted Aon Corp’s first quarter 2008 profits, the broker revealed yesterday (1May).
  • Key parties in the London market, including the London Market Association (LMA), and the G6 have welcomed Lloyd's CEO Richard Ward's contract documentation initiative, which was announced on 22 May.
  • Shares in Swiss Re fell today after the reinsurer failed to meet analysts’ forecasts in its 2003 life and health results.
  • White Mountains Insurance Group has become the fourth (re)insurer to announce the formation of a Bermudian sidecar vehicle following last year’s US storm losses. Helicon will sit alongside the Bermudian reinsurer Olympus Re in writing up to...
  • Ten days after Lloyd’s insurer SVB announced a £50mn convertible bond and a shift away from Letter of Credit (LOC) financing, rival Wellington Underwriting said it had secured a new credit facility of £120mn with a group of banks.
  • Bermudian Argo Group International Holdings Ltd has agreed a 154p a share cash offer to buy Heritage Underwriting Agency plc in a deal that values the Lloyd’s insurer at £136mn on an ex-dividend basis.
  • New York Attorney General Andrew Cuomo has filed a suit against Ernst & Young (E&Y) alleging that the "big four" accountancy firm assisted collapsed bank Lehman Brothers in defrauding its shareholders.
  • The Spitzer fallout continues for Marsh & McLennan Cos (MMC) with the filing of an anti-trust lawsuit by the state of Ohio against the world's largest broker, along with American International Group and three other insurers.
  • German insurance giant Allianz says it expects to post a drop in first quarter operating profit of EUR900mn to EUR1.3bn compared to the same period in 2008.