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  • Standard & Poor’s (S&P) has upgraded the insurer financial strength rating of AXA’s core subsidiaries to AA from AA- citing the company’s successful integration of Winterthur.
  • Swiss (re)insurer, Zurich Financial Services Group announced today that with immediate effect, Mike Kerner will become global chief underwriting officer for general insurance.
  • Lancashire Holdings Ltd has entered into a contingent equity arrangement which gives the Bermudian-headquartered insurer the right to raise a minimum of $49mn any time throughout this year’s hurricane season.
  • Standard & Poor’s (S&P) has upgraded the insurer financial strength rating of AXA’s core subsidiaries to AA from AA- citing the company’s successful integration of Winterthur.
  • Swiss reinsurer Glacier Re has become the latest carrier to go to the capital markets sponsoring $75mn in notes under a shelf programme providing it with retrocession cover from windstorm and earthquakes.
  • UK regulator, the Financial Services Authority (FSA), has banned David King, the president of the unauthorised insurer CIC, from working in regulated companies for life.
  • Catlin Underwriting Agencies CEO, Paul Jardine has been elected as the new chairman of the Lloyd’s Market Association (LMA) to replace ACE Europe’s CEO and chairman Andrew Kendrick.
  • Dominic Fodera, a former director of failed Australian insurance company HIH, has been jailed for two years for authorising a prospectus with a material omission.
  • Lloyd's insurer Novae has entered the UK property market with the appointment of an ex-Wellington Underwriting team.
  • UK broker COBRA Holdings has announced its intention to seek admission to the AIM stock exchange with a planned £10mn float.