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  • Ratings agencies Moody’s and Standard and Poor’s (S&P) have taken opposing stances on Finnish financial services company Sampo’s increase in its stake in pan-Nordic insurer If to 90 percent from 38 percent in February 2004.
  • Nigel Rogers is owed only a fraction of his claimed remuneration for his time as CEO of Lloyd’s insurer Terra Nova, according to a judgment from London's Royal Courts of Justice handed down last week.
  • ESG Re, the Bermuda based Life, Accident and Health reinsurer, has seen its problems multiply after a disastrous fortnight that included another downgrade, the resignation of its auditors and a threatened de-listing from Nasdaq.
  • Eliot Spitzer gave further indication last week that he is looking for Marsh to disgorge a significant proportion of its Placement Service Agreement revenues as settlement for the civil action filed against the broker on 14 October.
  • Bermudian (re)insurer Arch Capital Group Ltd has seen second quarter net income fall slightly to $192.3mn or $2.92 per share, compared to $199.4mn or $2.65 per share, in the prior-year period.
  • Lloyd’s (re)insurer Advent Underwriting Ltd has been dealt a blow by the sudden resignation of the chief underwriting officer of its Syndicate 780, Lloyd Tunnicliffe.
  • Allstate Corporation saw profits fall by over 75 percent in the first quarter of 2008 after suffering from a large rise in catastrophe losses.
  • Bermudian Max Re today (2 August) announced second quarter earnings below analysts’ expectations as investment income fell short of target.
  • Troubled American International Group (AIG) has finalised its latest round of government funding – a $29.84bn purchase agreement with the US Treasury which it first announced in March.
  • Bermudian reinsurer Max Re filed its first quarter results late May in a move that should avert its delisting from the Nasdaq trading exchange.