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  • Total insured losses for the wildfires that have plagued Texas for the week beginning with the Labor Day weekend could hit $250mn, according to the Insurance Council of Texas.
  • Bermudian (re)insurer Aspen Insurance Holdings Ltd has taken the innovative step of wrapping a credit derivative structure around a portfolio of its reinsurance recoverables, in a $420mn transaction with investment bank Deutsche Bank.
  • Canopius has announced the appointment of Lloyd’s recently departed head of risk management Stephen Manning as its new chief risk officer.
  • Benfield Group warned last month that trading profits are likely to be £10mn lower in 2006 than previously expected because of the loss of senior members of its facultative team to a rival firm.
  • The Lockton family and private equity firm Stone Point Capital have injected fresh capital into Lockton International, the London-headquartered broker acquired in 2006, The Insurance Insider can reveal.
  • US Directors & Officers cover is returning to Lloyd's after an almost complete withdrawal 18 months ago. Beazley is in negotiations to put together a $10mn Lloyd's facility in conjunction with other underwriters thought to include Hiscox. Beazley recently
  • Lloyd's insurer aims to exorcise US casualty spectre in bid to avoid run-off The Lloyd's insurer SVB Holdings Plc is working on a restructuring package that would ring-fence the group from its devastating US casualty exposures, The Insurance Insider c
  • Bermuda-headquartered Lloyd’s insurer Hiscox Ltd has begun a share buyback scheme after purchasing 839,699 ordinary shares.
  • The CEO of the UK regulator, the Financial Services Authority (FSA), announced he would be stepping down in July this year in an unexpected announcement on 16 January.
  • Swiss insurer Zurich Financial Services (ZFS) reported a record operating performance for the first nine months of 2005 when it released its interim results on 17 November. Net income was up by 21 percent to $2.26bn for the period with earnings per...