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  • Max Capital Group Ltd reported a strong second quarter, with net income increasing 477 percent over the prior-year period, to $94.1mn, or $1.45 per diluted share, despite gross premium income falling to $241.5mn from $284mn for the second quarter 2006.
  • Despite being characterised by Eliot Spitzer as a practice that “rigs bids, stifles competition and cheats customers,” Marsh confirmed last week that it is moving to collect up to $230mn in contingent commissions which it says it is owed by insurers.
  • MAP's main Syndicate 2791 excelled in its final results for the 2007 underwriting year, yielding a 27.8 percent return on capacity.
  • SCOR is facing further legal action in its long-running dispute with Highfields investment funds, the former main minority shareholder in IRP Holdings Limited, the Dublin-based quota share sidecar it established in the aftermath of 9/11.
  • Specialist investment banking group Numis Securities has been removed from the Register of Sponsors of Lloyd's Capacity offers for two years following proceedings bought against it by the Society.
  • Overseas investors form new association to demand radical change in the market's structure and cost base which could see the demise of traditional Names Heavyweight Lloyd's insurers are demanding that the market radically restructure, giving rise to fe
  • Cable & Wireless captive was ‘surrounded in secrecy and protected by lies’ Allegations of fraud, conspiracy and obfuscation were laid out in the Royal Courts of Justice earlier this month with opening submissions by telecommunications firm...
  • Giant insurer American International Group (AIG) has taken legal action in an effort to seize $20bn of its own shares from the control of ousted former chief executive Maurice “Hank” Greenberg, according to reports today in the Wall Street Journal (WSJ).
  • The spate of litigation relating to the Washington Metro train crash in June 2009 that killed nine people and seriously injured a number of others has continued, with the Washington Metropolitan Area Transit Authority (WMATA) now seeking more than $13mn from Lexington.
  • Marsh & McLennan (MMC), the parent company of US insurance broker Marsh, has seen a drastic change in the structure of its business, due in part to the market timing scandal at its fund management subsidiary, Putnam. Further worries for the coming year ar