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  • Bermudian giant XL Capital reported on 26 July that it had almost trebled its second quarter net income to $377.1mn, up from $135.9mn in the prior-year period.
  • The Association of Run-Off Companies (ARC) has announced a number of changes to its board adding three new appointments while its deputy chairman, Peter Abbott, has stepped down.
  • The Financial Service Authority (FSA) published reports last week on "better regulation" and the associated costs as it seeks to improve and streamline its activities.
  • The Conservative Party has abandoned immediate plans to abolish the UK regulator the Financial Services Authority (FSA) as a concession to its coalition partners the Liberal Democrats.
  • Scottish Re, the beleaguered Bermudian life reinsurer, lost almost half its value as its shares crashed last week.
  • The National Association of Insurance Commissioners (NAIC) finally adopted its Reinsurance Regulatory Modernisation Framework Proposal (RMFP) on 7 December in a long-awaited move which will overhaul the US' current state-based regulation of alien reinsure
  • American International Group (AIG) is to turn over internal documents to Maurice “Hank” Greenberg after a judge ruled in favour of the US giant’s former chairman and CEO.
  • Losses from the collapsed Aon 77 energy lineslip to be contested in the High Court with the Central Fund and Aon’s E&O insurers exposed to outcome Lloyd's Central Fund may be forced to pick up the losses from Aon's collapsed energy lineslip regardless
  • Edinburgh-headquartered investment trust Caledonia exited from its holding in listed Lloyd's insurer Novae last month.
  • XL Capital’s share price fell 12 percent after the insurer announced an unexpected $200 mn charge for additions to its 11 September reserves and a $120 million charge for bond writedowns for WorldCom, Adelphia and other telecommunications companies.