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  • London market back office service provider Xchanging plc has entered into a retail investment account management partnership with Allianz Global Investors.
  • Disgraced “Sheriff of Wall Street” Eliot Spitzer has resigned as New York Governor over his links to a prostitution ring.
  • Lloyd’s insurer Kiln plc announced on 26 October that Paul Letherbarrow would be assuming the role of active underwriter of Kiln’s Aviation division, Syndicate 510, subject to Lloyd’s approval.
  • AXA is believed to be again working with the French investment bank IXIS in developing another innovative risk securitisation, according to reports.
  • The UK insurance industry took a £1.4bn hit from the freezing weather that brought the nation's economy to a stand-still for much of December - twice the amount it paid out for the previous winter
  • Standard & Poor’s (S&P) was the first rating agency to respond to news of the proposed reinsurance deal between Equitas and Berkshire Hathaway by signaling the possibility of an upgrade in Lloyd’s financial strength rating.
  • Ironshore Inc - the Bermudian start-up insurer currently circling the quoted Lloyd's minnow Heritage Underwriting - has appointed the former Lloyd's chief executive Ron Sandler as chairman.
  • Corporate financiers at Hoare Govett, the London broking arm of Dutch bank ABN Amro, are rounding up investors to back a £50mn plus flotation of a new UK start up, Illium Insurance.
  • Despite boosting asbestos reserves by £167mn, Lloyd's pre-1993 run-off vehicle Equitas heralded a year of progress which has left it in a stronger financial condition as it announced its financial results for the year ended 31 March 2005 early this month.
  • A fourth quarter deficit was inevitable for the Bermudian giant XL Capital after a previously announced pre-tax charge of $694mn, and the operating loss of $2.54 per share was roughly in line with analysts’ expectations (First Call consensus $2.51).