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  • The California Earthquake Authority (CEA) has issued two tranches of catastrophe bonds, collateralising high-end property losses from personal and commercial lines in California.
  • AIG director Frank Zarb will be responsible for revealing Maurice “Hank” Greenberg’s testament when the insurance giant’s legendary patriarch decides to leave the company.
  • Share prices in Lloyd's (re)insurers have fallen sharply in response to the explosions which rocked London this morning.
  • A strong final quarter from “Class of 2001” alumni Montpelier Re failed to prevent its full year profits from slumping from $407.1mn in 2003 to $240.3mn in 2004.
  • Hank Greenberg, the ousted chief executive of insurance giant American International Group, said he will meet soon with US regulators to discuss their investigations into the insurance giant.
  • Recently quoted Lloyd’s insurer Omega Underwriting Holdings Ltd forecast last week that it would make 10-15 percent profit on a capacity of £152mn for 2003.
  • Australia headquartered (re)insurer QBE is set to merge its European commercial and European divisions to create a single Dublin based operation.
  • Guy Carpenter has swooped for Chris Klein, the chairman of rival Benfield Group's counterparty risk unit.
  • Cavell USA, an affiliate company of UK quoted run-off group Randall & Quilter, and its founder Ken Randall were awarded $1mn and £150,000 in interim damages last month in their dispute with two legacy insurance companies connected to its rival the Bermuda
  • Despite a recent EUR4bn fund raising, rating agency Fitch Ratings downgraded its financial strength rating on the world’s largest reinsurer Munich Re to AA from AA+.