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  • Despite winning the support of Converium’s board with an increased bid, SCOR’s attempts to buy its rival have been further frustrated by the Swiss Takeover Board (STB).
  • Broking giant Marsh has established a new renewable energy team that will be headed by Susan Stokes and Tom Sexton.
  • Rod Fox, the former chief executive of Benfield’s US arm, is set to return to operations at the reinsurance broker after being granted a leave of absence in the spring following allegations concerning his private life.
  • Bermudian insurer Allied World Assurance Holdings revealed its annual gross written premiums have breached the $1bn barrier in its second year of trading.
  • Allstate Corporation, the second largest property and casualty insurer in the US, has beaten consensus forecasts to post an 11 percent increase in Q2 2005 earnings, helped by benign catastrophe losses and strong premium growth.
  • Bermudian reinsurer Montpelier Re reported a 34.7 percent rise in its first quarter net income, $48.5mn, or $0.54 per share, compared with $36mn, or $0.54 per share, for the same quarter last year. Net income excluding net realised and unrealised...
  • Hardy Underwriting Group (HUG) has acquired a 13.3 percent share in fellow Lloyd's listed vehicle Atrium Underwriting. HUG paid £4.85mn cash for 6.47mn ordinary Atrium shares.
  • Omega has walked away from a possible bid for fellow Lloyd’s insurer Hardy.
  • Former American International Group (AIG) chief executive, Maurice “Hank” Greenberg, has sent a letter to friends and associates asking permission to use their names as part of a PR operation to repair his image, reports The Wall Street Journal.
  • Putnam Investments announced last week that its assets had plunged by more than $32bn in November following allegations of fraud and irregular trading.