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  • XL Capital, which announced the first of the post-Katrina sidecars Cyrus Re in November last year, has launched a new Cayman Islands special purpose reinsurance vehicle, Stoneheath Re.
  • Industry legend Hank Greenberg and his Starr companies have sold over 27 million shares in his former company, American International Group (AIG), since May.
  • The Lloyd’s Market Association’s (LMA) has announced that its chief executive Simon Sperryn, will leave the association at Christmas 2006.
  • AIM-listed Heritage Underwriting Agency plc announced on 24 November that it has raised £14.6mn in a share placement.
  • UK regulator the Financial Services Authority (FSA) fined Berkshire Hathaway subsidiary General Reinsurance UK £1.225mn last week for arranging two improper reinsurance transactions.
  • Wellington plc, the Lloyd’s insurer that has agreed to the takeover overtures from rival Catlin Group, has been struck by resignations from its UK property team.
  • XL Capital, which announced the first of the post-Katrina sidecars Cyrus Re in November last year, has launched a new Cayman Islands special purpose reinsurance vehicle, Stoneheath Re.
  • Reinsurance broker Guy Carpenter is leading a consortium of brokers, including Aon Corp and Jardine Lloyd Thompson, which will place Brazil’s largest property contract in the January renewals.
  • Catastrophe modelling agency Risk Management Services (RMS) has reiterated its medium-term five-year view on the probability of Atlantic storm losses as above average from next year, despite 2006’s placid storm season.
  • Quoted Lloyd’s insurer Chaucer Holdings plc posted an upbeat trading statement on 23 November with improvements on 2004 and 2005 forecasts and an optimistic outlook for next year.