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  • Paris headquartered insurer Axa has reported a modest increase in its 2004 sales, helped by a recovery in American life and savings revenues and premium gains from its P&C business.
  • The protracted reform of the National Flood Insurance Program could face further delays due to the Senate's current legislative timetable.
  • French (re)insurer SCOR has agreed to buy German life reinsurer Revios in a $775mn transaction.
  • Embattled (re)insurance group Alea Group Holdings has sold the renewal rights of its US primary programme business written by its Alea Alternative Risk (AAR) subsidiary to New York based AmTrust Group in a deal likely to be worth between $20mn-$40mn.
  • Chinese insurer PICC Property & Casualty Company aims to raise HK$6.14bn ($787mn) from a rights issue which is being supported by cornerstone shareholder American International Group (AIG).
  • Hiscox has teamed up with AEGIS in a strategic partnership that will allow the Lloyd's insurer to offer its privacy protection product to the Bermuda-based energy
  • American International Group (AIG) is to restate its financials for the second time this year after finding an additional £500mn of income through accounting errors.
  • Reinsurers wishing to utilise solvent schemes of arrangement involving US cedants have been dealt a blow by a provision in the proposed framework setting collateral requirements for non-US entities.
  • The 6 October saw Randall & Quilter (R&Q) affiliate Cavell USA launch its UK offensive against private equity owned Seaton Insurance Co and Stonewall Insurance Co in the English Commercial Court for alleged breach of...
  • Dewey & LeBoeuf has finally filed for Chapter 11 bankruptcy in New York and placed its separate UK-incorporated entity into administration.