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  • Bermudian based White Mountains Insurance Group Ltd agreed to buy Swedish (re)insurer Sirius Insurance earlier this month, as first revealed in The Insurance Insider's 10 November edition of its sister publication Insider Week.
  • As the renewals season rolls on, the world's largest insurance broker Marsh has outlined its terms for placement service agreements (PSAs) - off slip payments from underwriters to brokers in return for a guaranteed proportion of business or profit.
  • Despite the old adage that losses from bad years only get worse, latest estimates from Lloyd’s syndicates hold out hope that the awful 2001 underwriting year may yet plateau.
  • Industry financier Sir Laurie Magnus has warned that the London market is in danger of being overtaken by US and Bermudian insurers unless it works to improve its claims processes and standards of professionalism.
  • Those inclined to a "half full" interpretation of the global insurance industry were encouraged this month by two relatively upbeat reports.
  • Hamilton-headquartered Max Re reported a significant year-on-year increase in second quarter net profits from $12.6mn or $0.26 a share, to $22.3mn or $0.45 a share for the three months ended 30 June 2005.
  • Lloyd’s has warned its franchisees to expect the Central Fund levy to double next year from a current 0.5 percent of capacity to 1 percent as the Society looks to bolster its financial strength.
  • Warren Buffett’s Berkshire Hathaway confirmed last week that Milan Vukelic, the former chief executive of General Re’s London market arm Faraday Group, was dismissed in July following regulatory investigations into finite reinsurance transactions...
  • US insurer Hartford Financial Services Group Inc announced a 39 percent rise in quarterly profits due to a strong underwriting performance in its property-casualty operations.
  • The honeymoon period for new Aon chief executive Gregory Case continued last week after shares in the broking giant soared 17 percent following a strong second quarter.