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  • Beazley Group plc's head of property Jonathan Gray has called for a back to basics approach to catastrophe underwriting last week, advising underwriters to rely more on their common sense and not to become slavishly dependent upon catastrophe models.
  • London market IT provider Room Solutions has been bought out by the Indian-headquartered company NIIT Technologies Limited (NIIT). In an announcement today (8 May), the company said NIIT has...
  • Despite the capital market's growing appetite to assume risk, traditional reinsurance cannot be beaten for speed of access, according to speakers at an Insurance Insider event last week.
  • Lloyd's insurer Chaucer Syndicates has appointed two new directors from within the business.
  • Brit Insurance Holdings plc has announced a record-breaking five-year sponsorship deal with Surrey County Cricket Club and the Brit Insurance Oval.
  • Bermudian (re)insurer AXIS Capital reported first quarter net income of $195.2mn, or $1.19 a share, up from $151.8mn, or $0.95 per share for the prior year period.
  • The positive first quarter for Bermudian (re)insurers continued when RenaissanceRe posted a record net operating income of $195.7mn, or $2.73 per share, up from $54.5mn, or $0.76 per share last year.
  • Willis Group Holdings Ltd reported on the 3 May net income of $140mn, or $0.89 per share, for the first quarter of 2006, more than double the $67mn, or $0.41 per share, recorded in the prior-year period.
  • Boston-based insurance giant Liberty Mutual Group engaged in kickbacks and bid-rigging to boost sales, according to lawsuits filed by the New York and Connecticut attorney generals last week.
  • Despite unveiling hurricane losses of $3.4bn for last year, Berkshire Hathaway Inc said it remains committed to writing catastrophe (re)insurance.