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  • Private equity firm General Atlantic is to sell another 15.23 million shares, or 7 percent of the issued share capital, in London market back office service provider Xchanging plc.
  • A total of nine (re)insurers updated their loss estimates for first quarter Antipodean cats this week, adding up to $860mn to the tally for February's Christchurch earthquake as well as the Australian flooding and cyclone earlier this year.
  • There were few surprises as Marsh & McLennan Companies, Inc (MMC) released a steady set of third quarter results today (1 November), with consolidated revenues up four percent to $2.9bn on the prior-year period.
  • Nordic insurer Tryg Vesta formally withdrew from the London market last week after announcing that its subsidiary Tryg-Baltica International (UK) Ltd has been placed into run-off.
  • BlackRock, one of the five biggest holders of London-listed insurance equities, has slashed its stake in Omega Insurance by more than half.
  • American International Group (AIG) has used the proceeds from its sale of MetLife stock to reduce its obligations to the US Treasury by a further $6.9bn, bringing the balance repaid in 2011 to $36bn.
  • Although it didn't reveal further significant impact from its relationship with troubled affiliate SCA, XL Capital Ltd reported a 49 percent drop in net income for the first quarter 2008 on the prior-year period, to $276.9mn, as investment losses bit.
  • The Supreme Court of Connecticut has ruled against Marsh & McLennan Cos (MMC) and given the state's attorney general Richard Blumenthal the green light to try to recover damages from the broker.
  • UK listed broker Jardine Lloyd Thompson Group plc (JLT) has ended its year-long search for a new group chief executive with the internal appointment of chief operating officer Dominic Burke to the position. Burke trumped colleague Mike Hammond, the...
  • Wellington are planning a 50 percent increase in capacity after agreeing terms for quota share reinsurance and a new parallel syndicate.