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  • Broking giant Aon Corp said it is again mulling the sale of its underwriting business, Combined Insurance Company of America (CICA), as it announced a 9 percent rise in brokerage revenue for the second quarter.
  • Privately owned Lloyd's broker FirstCity Partnership has parted company with senior executive Roddy Graham only days after promoting Stephen Burnhope to the head of its financial institutions and professional lines, The Insurance Insider understands.
  • Richard Pexton, CEO of Lloyd's specialist (re)insurer Heritage Managing Agency Ltd, has resigned from the firm.
  • As exclusively revealed by The Insurance Insider on 24 July, Aeolus Re will become the latest reinsurer to begin operations on Bermuda following the raising of $500mn of capital.
  • AXA has launched a further EUR450mn securitisation of its motor portfolio today, following its innovative EUR200mn FCC Sparc transaction 18 months ago.
  • Broking group Jardine Lloyd Thompson (JLT) has recruited the London-based Aon Benfield duo Alastair Rodger and Kevin Timmons to build a corporate finance arm.
  • Lloyd's specialist insurer Kiln posted record pre-tax profits of £38.1mn for 2004, an increase of 5 percent on 2003’s result. Gross written premiums rocketed by 17 percent to reach £313.5mn, but the company’s combined ratio rose to 86 percent against 2
  • Dennis Kozlowski, the former CEO of manufacturing conglomerate Tyco, is seeking policy documents from Willis through the courts, as part of his bid to get an insurer to pay his $17.8mn legal bills.
  • Brokers Marsh & McLennan has “restructured, refinanced and refocused its sales force” and is ready to grow again after suffering a rough year post-Spitzer, according to an analyst.
  • Reinsurance spin-off Aspen Re has appointed bankers Credit Suisse First Boston and Goldman Sachs to advise on a possible $1bn+ US listing, according to sources.