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  • Scottish Re, the under-fire Bermudian life reinsurer, suffered further ratings downgrades from AM Best and Standard & Poor's last week.
  • RK Harrison Insurance Brokers Ltd, the independent London market brokers, will appoint the former Jardine Lloyd Thompson Group executive Dominic Collins to replace its retiring executive chairman, Richard Corfield.
  • RK Harrison Insurance Brokers Ltd, the independent London market brokers, will appoint the former Jardine Lloyd Thompson Group executive Dominic Collins to replace its retiring executive chairman, Richard Corfield.
  • Stephen Way has resigned from HCC Insurance Holdings, the company he founded in 1974, following a company investigation over its stock-option granting practices.
  • It took 18 months for ACE Ltd to persuade the Pennsylvania Insurance Commissioner to approve the sale of its asbestos riddled Brandywine subsidiaries, so R&SA shareholders might be in for a long wait before they see their US legacy business spun-off.
  • Creditors for all 16 of the participants in the proposed WFUM pool scheme of arrangement met in London on 27 October.
  • The Corporation’s chief executive Richard Ward is understood to be close to ordering a restructuring of its senior management and reporting structures, according to sources.
  • Swiss reinsurer Converium’s share price continued its upward trajectory after announcing the $295mn sale of its US operations to National Indemnity last month.
  • Despite comfortably outpacing third quarter earnings projections, Bermudian rivals ACE Limited and XL Capital met very different responses from analysts at Morgan Stanley.
  • Despite the whispers of smooth-talking bankers, merging two insurance companies is rarely easy – and this is often multiplied in the case of Lloyd’s insurers where management egos and the existence of obdurate Lloyd’s Names add further complications.