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  • Canadian insurance combine Fairfax Financial Holdings Ltd revealed a return to underwriting profit last week with “record” earnings of $271.1mn for 2003, which included a positive underwriting contribution of $87.7mn.
  • Nine intense typhoons and 17 typhoons are predicted for the forthcoming Northwest Pacific typhoon season according to the latest forecasts from the Tropical Storm Risk (TSR) consortium.
  • European Reinsurance Company of Zurich, a subsidiary of Swiss Re, has purchased 550,000 of Trenwick's Series B Preferred Shares for an aggregate purchase price of $40mn, thereby settling the dispute between Swiss Re and Trenwick over a Catastrophe Equity
  • Marsh reinsurance broking arm Guy Carpenter has launched the industry's first model for predicting the frequency and severity of class action law suits related to securities, which account for the majority of Directors and Officers (D&O) claims for insure
  • Troubled US insurer CNA looks to have taken another step in its capital restructuring with today’s announcement that The Hartford will pay $500mn to take on its life and accident insurance operations, along with some specialty lines.
  • Broker Howden has today (23 October) announced the launch of a special risks global wholesale broking arm for small and medium sized brokers.
  • Mining conglomerate BHP Billiton - which experienced heavy losses in 2008, primarily as a result of flooding in Australia - has decided to self-insure for property and business interruption risks.
  • USI Holdings’ admission at the end of October that it was mulling a private equity buyout offer reflects a growing interest in the broking sector from the investment community.
  • The latest insurer to face a hefty financial guarantee loss is Swiss Re North America, which was told this month that it must honour a policy guaranteeing the residual value of motor cars leased through Cleveland headquartered Key Bank USA between 1997 an
  • Despite increasing second quarter profits by 45 percent to SFr1.2bn over the prior-year, world’s largest reinsurer Swiss Re failed to impress analysts with its figures.