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  • Finnish insurance group Sampo's P&C insurance subsidiary has agreed to purchase Russian insurer SOAO Region, the group announced last week.
  • Seven changes are expected to Converium’s board of directors when shareholders meet in April for the company’s Annual General Meeting. In keeping with previous indications chairman Peter Colombo will step down from his position on 11 April.
  • ACE Ltd is restating its financial results for the last five years after an internal investigation discovered that eight finite risk contracts have been accounted for incorrectly.
  • Despite growing concerns that US property & casualty rates are tailing off, Swiss Re senior economist Thomas Holzheu predicted last week that rates will continue to remain firm while profits remain hampered by poor investment returns and reserving issues.
  • The volume of capacity traded in this season increased with each auction, but still failed to match those traded in previous years, and unsatisfied sell orders continue to increase.
  • As predicted in the December 2004 edition of our sister publication The Insurance Insider, Jubilee Managing Agency Ltd has announced the acquisition of the Cassidy Davis business from St Paul Travelers’ Lloyd’s operation.
  • The changing of the guard among London’s mid-tier brokers continued last week after RFIB Group Ltd confirmed it had undertaken a management buy-out financed with private equity support.
  • Capital providers at Lloyd's will see their fees reduced next year after the Society restructured the levies charged on each underwriting member. As predicted in the August edition of The Insider, Lloyd's will end the current 2 percent premium levy at
  • UK insurer Royal & SunAlliance Insurance Group plc announced a preliminary estimate of £30m, net of reinsurance recoveries, for claims arising from the recent storms and floods in the UK and Scandinavia last week.
  • Willis Group's first quarter results, due out this week, will be scrutinised carefully by investors for the performance of its US operations, following last year’s $2.1bn acquisition of Hilb, Rogal & Hobbs (HRH).