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  • Lloyd’s reinsurer Advent Capital said it expected to make a profit of £22.8mn for last year, reversing the £74.8mn deficit a year earlier.
  • If the recent reinsurance legislation had been passed in a foreign country (re)insurers would be asking the State Department to intervene, according to Maurice “Hank” Greenberg, chairman and CEO of CV Starr & Co.
  • In a further sign of growing innovation between the (re)insurance industry and capital markets, the Chicago Mercantile Exchange (CME) is to begin trading hurricane futures and options in conjunction with reinsurance broker Carvill.
  • Although Aon Corp's audacious swoop for rival Benfield's facultative team continues to generate acrimony between the two firms, the UK-headquartered reinsurance broker has begun the process of recruiting new talent.
  • Insurance broker Willis Group Holdings revealed it would be reducing its headcount by an extra 100 people as it reported annual profits had grown to $449mn last year, compared to $281mn in 2005.
  • The Bermudian (re)insurers that took such a battering in 2005 are celebrating record 2006 results as they cashed in on a benign catastrophe environment and soaring property catastrophe rates.
  • Bank of America's debut Lloyd's syndicate, which specialises in writing long-tail lines, began operating in Lloyd's on 1 February.
  • Heath Lambert, the independent UK broker that came close to tying the knot with rival Jardine Lloyd Thompson Group plc last year, looks set to unveil a 2006 turnover of around £121mn...
  • David Foreman, the former underwriting chief at Wellington Underwriting, is close to confirming the launch of a new Lloyd’s based (re)insurer supported by private equity finance, The Insurance Insider understands.
  • Besso Holdings Ltd has become the latest London market broker to consider entertaining takeover offers, The Insurance Insider can reveal.