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  • Leading sports underwriter Sportscover announced on 15 August that it is launching a new Lloyd’s syndicate specialising in covering amateur sports.
  • London market underwriters who hand over the pen and the coverholders who act under their binding authority in the UK should making ready for the raft of FSA regulations due to come in at the end of the next year. This was the advice from Richard Teff, pr
  • The Corporation's chief executive Richard Ward is understood to be close to ordering a restructuring of its senior management and reporting structures, according to sources.
  • Giant US insurer American International Group (AIG) has ended its business relationship with American International Marine Agency (AIMA), a subsidiary of CV Starr & Co.
  • Towergate Partnership has revealed 2007 group profit of £166mn on the basis of earnings before investment, tax, depreciation and amortisation (EBITDA), which includes income from Payment Shield, Open GI, and The Broker Network.
  • US insurer Assurant's fourth quarter net income dropped 93 percent to $11.9mn, compared to $182.4mn in Q408, after it was hit by goodwill writedowns and losses in its struggling health unit.
  • Marsh & McLennan Risk Capital Holdings has agreed to sell around half of its share in AXIS Capital, the Bermudian (re)insurer it helped found in the wake of 9/11.
  • US national insurer State Farm's Texan subsidiary, State Farm Lloyds (SFL), was ordered last week by the state's insurance commissioner, Mike Geeslin, to repay home insurance policyholders $310mn in excess charges that go back six years.
  • Lloyd's insurer Creechurch Underwriting Ltd parted company with its chief executive Bruce Graham last week, replacing him on an interim basis with the group underwriting director David Pye.
  • Willis – the world’s third largest broker – announced last Thursday (4 December) it had successfully completed a finance deal providing it with $600mn unsecured credit facilities, made up of a $450mn term loan and a $150mn revolving facility.