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  • America's second largest personal line insurer, Allstate reported a 26 percent jump in its first quarter profits on 18 April. Net income totalled $1.42bn, or $2.19 per share, for the first three months of 2006, up from $1.12bn, or $1.64 per share...
  • Willis became the latest of the international brokers to announce job losses as part of an efficiency drive with confirmation by the company yesterday that it would cut 400 positions.
  • One of the largest, and most complicated, pool schemes of arrangements is in the offing after the manager of the London-based WFUM pools has written to policyholders to give them early notice of plans to propose a unified series of schemes...
  • “Class of 2005” start-up Lancashire Holdings Ltd has benefited from low claims during a benign first-half of 2006 to report net income of $39.3mn today (7 August).
  • Venture capital firm 3i Quoted Private Equity Ltd (3iQPEL) has acquired 1.7 million shares in AIM-listed UK broker Jelf Group plc, taking its stake in the firm to 27.9 percent.
  • A US jury has returned a verdict of guilty on all counts in the trial of Gen Re and American International Group (AIG) executives over a sham $500mn finite reinsurance contract between the two companies.
  • Martin Sullivan, the chief executive of insurance giant American International Group (AIG) heralded last week’s $1.64bn regulatory settlement as “a major step forward in resolving the legal and regulatory issues facing AIG”.
  • The defunct Australian insurer HIH Casualty & General is alleging fraud against its broker JLT Risk Solutions over controversial film finance losses written in 1997. The case is being heard by the Honourable Mr Justice Langley...
  • Former Gen Re executives Geoffrey Barnum and Christopher Byatt have dropped their appeals to the Australian regulator The Australian Prudential Regulation Authority (APRA) over their disqualifications. The two were disqualified by the APRA...
  • Bermudian (re)insurer Aspen Insurance Holdings has announced net income of $80.9mn, or $1.13 per diluted share, for the second quarter of 2004.