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  • LCL Group – the run-off manager to debt collections specialist – has today (5 September) announced the acquisition of Associated International Insurance (Bermuda) Limited (AIIB).
  • UK insurer Brit Insurance Holdings has announced the appointment of Kathy Lisson as Chief Operating Officer as the group continues its drive for market reform and operational changes.
  • 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.
  • Insured losses to the Gulf of Mexico energy sector will be twice as high as those of 2004’s Hurricane Ivan, according to the latest estimates of the damage caused by Hurricane Katrina.
  • Bermudian reinsurer Partner Re has appointed Emmanuel Clarke to head up the property and casualty business unit of its global operations.
  • US broker Hilb Rogal & Hobbs Company revealed last week that it had settled with Connecticut regulators investigating the firm over alleged compensation abuses.
  • Supporters of UK solvent schemes of arrangement were encouraged by a Scottish Court’s decision to sanction the M&G Re scheme last Thursday (1 September).
  • 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.
  • Supporters of UK solvent schemes of arrangement were encouraged by a Scottish Court’s decision to sanction the M&G Re scheme yesterday.
  • 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.