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  • Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007.
  • American International Group became the latest financial institution to bail-out a structured investment vehicle (SIV) when it came to the rescue of its $2.5bn vehicle, Nightingale Finance.
  • US reinsurer General Re is to pay the US government the $5mn fee it received for a sham finite reinsurance contract with American International Group, according to reports.
  • CIGNA’s inability to hedge its exposures to variable annuity death benefit contracts (VADBEs) have cost the embattled US health insurer a further $300mn.
  • Listed insurer Hiscox is awaiting Lloyd’s approval for its planned Bermudian sidecar, which, Insider Week can reveal, will be called Panther Re.
  • Arch Re Europe - a subsidiary of Arch Capital - has acquired Ariel Re's orphaned credit and surety reinsurance business.
  • Lowered LSAs reflect poor performance and pipeline losses In the second yearly review of its Lloyds Syndicates Assessments (LSAs), rating agency Standard & Poor's has lowered its assessments on 10 syndicates and raised two, reflecting on the “poor oper
  • After a torturous M&A process, Omega finally looks set to be sold to Canopius after over 90 percent of the votes cast on the relevant motion were in favour of the deal.
  • Insider Publishing Ltd, the publisher of Insider Week and The Insurance Insider, has launched a new publication that focuses on the life insurance, investment and pension industries.
  • Pressure for comprehensive legal reform in the US has grown with the American Bar Association (ABA) voting to back asbestos limit caps and the asbestos reform bill was introduced in the US Senate. This after President Bush called for changes to medical ma