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  • Maiden Holdings continued its rapid top-line expansion in the third quarter, with its quota share arrangement with AmTrust and its acquisition-led entry into the motor reinsurance arena boosting premium income
  • Speculation surrounding the future of Marsh & McLennan Companies (MMC) security consulting arm, Kroll, was further fuelled at the end of last week when the company announced that founder Jules Kroll is to step down.
  • The widening scope of schemes of arrangement was extended further last month as a Canadian court upheld its approval of a scheme promoted by run-off manager Cavell, despite last minute attempts to derail the process by Canadian policyholders.
  • Bermudian Max Capital Group Ltd reported third quarter net profits of $66.8mn, up from $26.5mn, and gross premiums written of $223mn, compared to $177.9mn in the prior-year period as a significant deal in its life and annuity business boosted the top line
  • As generally dire underwriting conditions continue to persist in the US property casualty sector, there are at least signs of encouragement in workers' compensation insurance.
  • Lloyd’s announced Friday (16 July) that all slips placed under binding authority agreements will have to meet London Market Principles (LMP) standards from the start of 2005.
  • European brokers' association the European Federation of Insurance Intermediaries (Bipar) has signed a transparency protocol with risk managers trade body the Federation of European Risk Management Association (FERMA), suggesting that brokers should fully inform clients of their remuneration packages - but only if asked.
  • US broker USI Holdings reported a 3.5 percent increase in third quarter revenues to $131.7mn as it announced income from continuing operations of $8.5mn last week (9 November).
  • Bermudian “class of 2001” reinsurer Montpelier Re announced another strong set of quarterly results last Tuesday (27 July), and revealed that chairman, president and CEO Tony Taylor’s tenure will be extended for a further three years up to the end of 2007
  • Berkley Insurance Co, a subsidiary of US (re)insurer WR Berkley, is opening an Australian operation to write casualty facultative and treaty reinsurance.