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  • Embattled life reinsurer Scottish Re Group and its subsidiaries suffered further downgrades from rating agency Standard & Poor’s (S&P) last week.
  • The UK Competition Commission has published a Statement of Issues for its inquiry into Lloyd’s members agency Hampden Private Capital’s acquisition of its rival CBS Private Capital’s advisory business.
  • US insurer Nationwide Mutual Insurance Co won the first of the many “wind versus water” lawsuits spawned by Hurricane Katrina last week, although experts warned that it is unlikely to set a precedent as the cases vary widely.
  • London market broker Humphreys Haggas Sutton & Co is to rebrand following its acquisition by Integro Ltd earlier this year. Humphreys Haggas Sutton & Co Ltd – which was formed in 1994 – will trade going forward as Integro Insurance Brokers Ltd.
  • Swiss giant Zurich Financial Services (ZFS) this morning reported half-year net profits of $1.96bn, up 9 percent on the first six months of 2005, and ahead of analysts’ consensus of $1.8bn.
  • Randall & Quilter Group Investment Holdings Ltd, the UK based acquirer of run-off businesses, has acquired Chevanstell Ltd, The Insurance Insider can reveal.
  • Australian-headquartered (re)insurer QBE Insurance Group announced today (16 August) that its after-tax operating profits were up 20 percent to Aus$591mn for the first half of 2006.
  • Sports underwriter Sportscover today (15 August) announced that it is launching a new Lloyd’s syndicate specialising in covering amateur sports.
  • Swiss-based reinsurer Glacier Re has responded to rating agency concerns following last year’s hurricanes by further bolstering its capital base with a $30mn cash injection from existing shareholders.
  • Zurich Financial Services announced last week that Mike Foley, the head of McKinsey's US P&C insurance practice, will become the chief operating officer for its North American Commercial unit.