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  • German giant Munich Re has announced quarterly profits of EUR979mn on the 9 May, up 41.7 percent from the EUR691 in the prior-year period.
  • Shares in American International Group (AIG) fell 5 percent late last week as investors sold stakes following a 16 percent drop in first quarter net income to $3.2bn on Wednesday (10 May).
  • 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...
  • The corporate scandals that have hit the US in the last few years have made the directors and officers (D&O) market, the toughest to administer claims, according to experts at a London-based conference.
  • London is on course to meet the Financial Services Authority's (FSA) 85 percent contract certainty deadline by the end of the year, according to the findings of a survey by IT company Sungard.
  • 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.
  • German insurer Allianz reported a 35 percent increase in profits in its revised first quarter results on 12 May. Net profit rose to EUR1.78bn this year from EUR1.32bn in the prior-year period.
  • The shares prices of the London Market’s blue-chip insurers were again dragged down today (15 May) as uncertainty continued to grip trading on the London Stock Exchange.