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  • Two Lloyd's syndicates have suffered downgrades from agency Standard & Poor's (S&P) as it conducts its latest Lloyd's Syndicate Assessment (LSA) review.
  • Bermudian (re)insurer Allied World Assurance Co (AWAC) is set to continue its capital building strategy after its forthcoming initial public offering (IPO) with the issue of $500mn senior notes.
  • Giant US insurer American International Group (AIG) and CV Starr announced last week in simultaneous, but separate, statements their intention to split their marine and energy businesses in future.
  • Broker Aon Corp has agreed to sell its warranty arm to Canadian conglomerate Onex Corp in an estimated $710mn deal.
  • A memorial service for the victims of the 7/7 2005 terrorist bombings in London will be held in the City on Friday 7 July.
  • Start-up UK insurer Novae Insurance Company Ltd, which is part of newly rebranded Novae Group, started trading today (3 July).
  • Jardine Lloyd Thompson Group plc is close to securing its rival Heath Lambert Group plc in a £130mn deal which promises to create a dominant UK regional player, The Insurance Insider can reveal.
  • Failed (re)insurer GoshawK today (29 June) released its 2005 preliminary results, revealing an after-tax loss of $140mn and warning that further deterioration in Hurricane Wilma losses would not be covered by its reinsurance protection.
  • Bavarian giant Munich Re moved a step closer to restoring its once cherished double A rating today, with the news that Standard & Poor’s (S&P) had revised its outlook on the company’s A+ rating from stable to positive.
  • Insurers were dealt a blow last week as government ministers said they will amend UK compensation laws in response to a House of Lords ruling that could potentially have reduced payouts to asbestos-related claimants.