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  • German reinsurer Hannover Re released strong first quarter operating results on 12 May, and said it was on track to hit 2006 earnings targets.
  • Aon Ltd, the UK arm of broking giant Aon Corp, has ditched plans to move its London operations out of the City of London and to the Docklands.
  • The emergence of the special purpose reinsurance entities known as sidecars is an innovative capital and risk management strategy and the market looks set to keep growing according to a report by ratings agency Moody's.
  • AXA is believed to be again working with the French investment bank IXIS in developing another innovative risk securitisation, according to reports.
  • Jardine Lloyd Thomson Group plc is in talks to buy its smaller rival, the resurgent Heath Lambert Group, in a move which might spark another round of broker consolidation fever, according to sources.
  • Validus Reinsurance Ltd will become the latest Bermudian reinsurer to launch a sidecar with around $200mn of capital, The Insurance Insider can reveal. The “class of 2005” company will form Petrel Re, a sidecar reinsurer that will provide capacity...
  • UK general insurer Royal & Sun Alliance (R&SA) this morning (11 May) announced first quarter pre-tax profits of £122mn, unchanged from the corresponding period of 2005.
  • First quarter net income dropped 16 percent to $3.2bn at American International Group (AIG), reported yesterday (10 May).
  • London market broker Tyser & Co has been refused leave to appeal a decision that upheld market custom that underwriters are entitled to placing and claims documentation held by broker.
  • London market broker Glencairn Ltd has parted company with Adam Fox, the head of its reinsurance operations.