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  • Declining P&C insurance rates, the weak dollar and the impact of Spitzer were all blamed by South African financial services firm Alexander Forbes for a 5 percent decline in revenues in its international risk services unit.
  • RITC Syndicate Management, the Lloyd’s start-up syndicate headed by former Markel Intl chief executive Nigel Rogers, has yet to do its first transaction but has nevertheless brought fresh capacity to the sector.
  • Within the run-off industry, you do not have to travel far to hear complaints over poor service provided by brokers on discontinued accounts.
  • Bermudian-based start-up Quanta Capital Holdings reported its maiden net profit last week (2 August), booking $1.8mn, or $0.03 net income a share for the second quarter of 2004, compared to a $4.5mn net loss in the first quarter of the year. Excluding net
  • Despite announcing a $500mn share buyback programme, shares in Marsh and Guy Carpenter parent Marsh & McLennan Companies, Inc, (MMC) were down in early trading today on the back of a sluggish set of first quarter results.
  • Willis continued its top tier re-shuffling last week with the appointment of Brendan McManus as chief executive of Willis UK & Ireland (WUK&I) operating division.
  • AIG's legendary leader Hank Greenberg reassured shareholders that the company's recent announcements over directors and officers exposures related to the need for higher rates, rather than an indication of a problem.
  • The controversial and politically sensitive dispute over the illegal acquisition of US insurer Executive Life by French bank Credit Lyonnais in 1991 is due to begin this week, barring a last minute settlement.
  • Seven changes are expected to Converium’s board of directors when shareholders meet in April for the company’s Annual General Meeting.
  • Bermudian (re)insurer ACE Ltd leads the cover on the passenger plane that swerved off the runway in Madrid killing more than 150 people, The Insurance Insider understands.