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  • Bermudian (re)insurer Everest Re Group faces the prospect of a downgrade from Standard & Poor’s (S&P) after the rating agency revised the outlook on its AA- rating from stable to negative on 13 November.
  • Oxygen Holdings plc, the London market intermediary backed by high profile figures such as ICAP founder Michael Spencer and former Marsh president Bob Clements, has continued the expansion of its broking operation with the acquisition of the business of S
  • A tsunami is expected to hit northern Japan and Russia today (15 November), the US Pacific Tsunami Warning Center has warned.
  • Bermudian (re)insurer Max Re Capital Ltd today (14 November) announced that acting chairman and CEO W Marston Becker has been permanently appointed to the position.
  • German reinsurer Hannover Re reported a “gratifying” third quarter result in which the group posted net income of EUR123.5mn.
  • Troubled Bermudian reinsurer PXRE reported a small third quarter net profit last week (8 November) as it said it continues to look for alternatives to what looks to be an increasingly inevitable slide into run-off.
  • American International Group (AIG), the world’s largest insurance company by value, was the latest firm to unveil strong third quarter results on the back of a benign 2006 claims environment.
  • Fears that the insurance industry would find itself penalised in the US courts if they declined Hurricane Katrina related payments were again soothed last week when a federal judge said State Farm should not have to pay more than a policyholder’s actual l
  • The legal wrangle surrounding contract wordings for the electronic claims file (ECF) has been resolved as the Market Reform Group (MRG) has reached agreement with key market bodies on the procedural rules which will underpin the use of the Insurers' Marke
  • Zurich Financial Services (ZFS) has appointed the head of Royal Bank of Scotland (RBS) Insurance Annette Court to become the chief executive of its European General Insurance operations.