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  • Claims Management Group Limited (CMGL) has been acquired from Zurich Financial Services Group (Zurich) (ZFS) by a management buy-out backed by UK private equity firm Sovereign Capital Partners LLP.
  • Mark Hardinge, the former Aon Ltd managing director of its professional risks division, is set to join UK broker Heath Lambert Group later this year.
  • Shares decline as H1 profit slump unveiled: London-listed (re)insurer Alea Group meets with rating agency Standard & Poor’s (S&P) this week in an attempt to defray a threatened downgrade following the group’s disappointing interim results last week.
  • Amlin plc became the first Lloyd’s insurer to publicly estimate its exposures to Katrina, as it projected $110mn net of reinsurance – but shares in the group rose almost 3 percent on strong first half figures.
  • Bermudian reinsurer Partner Re has appointed Emmanuel Clarke to head up the property and casualty business unit of its global operations.
  • German reinsurer Hannover Re became the latest company to release its estimates of losses from Hurricane Katrina today, warning that it was expecting a “loss burden” of €250mn before tax.
  • Supporters of UK solvent schemes of arrangement were encouraged by a Scottish Court’s decision to sanction the M&G Re scheme yesterday.
  • Shares in London-listed reinsurer Alea Group slipped further today after Standard & Poor’s (S&P) warned it may downgrade the reinsurer following its disappointing interim results earlier this week.
  • Hannover Re has warned that the cost of Hurricane Katrina would mean the world's fourth-largest reinsurer is unlikely to meet its profit forecasts for 2005.
  • UK listed insurer Alea Group Holdings has suffered a steep decline in its share price after revealing a 47 percent slump in first half 2005 pre-tax profits today (31 August).