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  • Swiss reinsurer Converium continues its recovery with another improved quarterly performance, reporting net income of $62.5mn today (8 August), compared with $46.9mn in the prior-year period.
  • Bermudian energy mutual Oil Insurance Ltd has reduced the 2008 premiums due from its members at last month's board meeting.
  • The Securities and Exchange Commission formally opened an investigation into Marsh & McLennan Companies' relationship with its private equity arm, MMC Capital, and its managed Trident investment funds, last month.
  • In the week that MMC had to reveal a 70 percent cut in first quarter earnings, more bad news arrived in the form of a legal action against the broker from Fortune Brands - the former Marsh client who was an apparent victim of bid-rigging.
  • A senior executive at Berkshire Hathaway’s reinsurance subsidiary General Re has pleaded guilty to the charge of criminal conspiracy brought in relation to the company’s transaction with American International Group (AIG).
  • Outsourcing firm Capita Group plc has added to its broking arm, BDML, with the acquisition of independent intermediary Lancaster Insurance Services Ltd.
  • Insurance specialists Kennedys and Davies Lavery have announced that the two firms will merge from 1 September 2008.
  • As the Federal Reserve hikes interest rates in the US, so the impact is filtering through to property casualty insurance stocks, according to research from equity analysts at investment bank Morgan Stanley. With US 10-year interest rates rising from 3.
  • In the week that MMC had to reveal a 70 percent cut in first quarter earnings, more bad news arrived in the form of a legal action against the broker from Fortune Brands – the former Marsh client who was an apparent victim of bid-rigging.
  • Aon is set to challenge SBJ’s traditional hegemony for UK professional sports insurance after swooping to recruit two of its brokers.