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  • Advent Capital Holdings has become the latest Lloyd’s (re)insurer to unveil plans for a Bermudian platform, Advent Re, which will write retrocessional business.
  • Liberty Syndicates - one of the largest Lloyd’s (re)insurers – has reduced its underwriting capacity for 2007 by £187mn.
  • In a year that has seen ratings upgrades outstrip downgrades for the first time since 2000, Standard & Poor's (S&P) has upgraded Bermudian (re)insurer Endurance Specialty Holdings Ltd from A- to A in response to growth in its US excess and surplus platfor
  • US giant American International Group (AIG) and CV Starr, the managing agency controlled by its former chairman and CEO Maurice “Hank” Greenberg, have settled the legal disputes stemming from the termination of their business relationship.
  • 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.
  • Lloyd’s insurer Ascot Underwriting has confirmed plans to increase capacity on its Syndicate 1414 by 13.5 percent to £625mn for the 2007 underwriting year.
  • Swiss reinsurer Glacier Re announced today (4 December) that Mario Ciancarelli has joined the company as senior underwriter.
  • Lloyd’s insurer Heritage Underwriting Agency Ltd has bolstered its underwriting executive with the appointment of the Lloyd’s Japan chief executive James Sardeson.
  • A team of Heath Lambert management risks brokers – led by Calvin Barnes - have defected to the expanding Oxygen Holdings plc.
  • Benfield Group has gained $19.5mn from the sale of its “Class of 2005” reinsurer Lancashire Holdings last week.