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  • German reinsurer Hannover Re says it is on target to reach its annual return on equity target of 15 percent, despite producing a relatively modest increase in group net income of 4.2 percent for the first half of the year.
  • Fairfax Financial Holdings' controlled reinsurer Odyssey Re said last week that it would delay filing its quarterly financial report while it continues to review its accounting treatment of various investments.
  • At a time of perhaps unprecedented capacity shortages for Gulf of Mexico energy risks, Willis Group has formed a global energy business designed to deliver a “deep understanding of its clients’ technical and operational needs”.
  • Capita Insurance Services, part of the UK outsourcing giant, Capita Group plc, announced on 10 August that it had secured a deal to process claims for Chaucer Syndicates.
  • No capital differential for 2007, but performance framework on track As well as ruling out the formation of an admitted lines US insurer – at least for now – Lloyd's last week (10 August) provided a comprehensive progress report on the initiatives...
  • UK insurer Royal & Sun Alliance (R&SA) last week (10 August) reported interim after-tax profits up 22 percent to £238mn on the first six months of 2005, driven by a strong showing in its so-called core group of business.
  • Four subsidiaries of CV Starr & Co, the managing agency ultimately controlled by former American International Group (AIG) chief executive Maurice "Hank" Greenberg, are suing three AIG employees for attempting to "systematically destroy" their business.
  • Fast expanding Lloyd's (re)insurer Ascot Underwriting is considering setting up an overseas operation to ease the penetration of its products into new markets.
  • ICP Ltd, a proposed new investment vehicle specialising in the Lloyd’s sector, has effectively withdrawn its plan to IPO on London Stock Exchange’s Alternative Investment Market (AIM) after failing to raise sufficient funds.
  • The relentless quest by (re)insurers to manage down their reinsurance exposures has inspired a new approach to crystallising the industry's recoverables.