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  • Royal & Sun Alliance completed its exit of UK life business by selling its closed operations to the “vulture fund” Resolution Life for some £850mn.
  • Insurance industry must be prepared to face “progressively rising losses” New research published by the Benfield Hazard Research Centre has painted a bleak picture of the impact of global warming and the prospects for tackling climate change.
  • Enron's new directors will be able to purchase directors and officers insurance, after the US bankruptcy court gave permission for funds to be released to pay the premium earlier this month.
  • Bermudian broker The Park Group has announced a number of management changes including the promotion of Michael Jenkins to deputy chairman of Park Bermuda Ltd.
  • Bermudian corporate asbestos liability risk reinsurer St George Re is set to begin trading offering US companies protection against asbestos claims, the company confirmed today (9 January).
  • Bermudian (re)insurer IPC Re announced another set of strident results last Tuesday (20 July) as it booked net income of $72.1mn, or $1.49 a share for the second quarter, up from $63.2mn, or $1.31 a share in the same period last year.
  • Michael Segal, the colourful founder of Chicago based Near North Insurance Brokerage Inc, was imprisoned last week following his conviction on multiple counts of mail fraud, wire fraud, tax conspiracy and racketeering.
  • Lloyd's insurers Beazley Group plc and Hiscox Ltd disclosed moderate share buybacks last week, continuing the trend in the (re)insurance sector for the repatriation of capital to shareholders.
  • Amlin’s well-regarded head of underwriting has taken a leave of absence from the Lloyd’s insurer because of ill-health.
  • Lloyd’s insurer SVB announced today (22 March) that it has bought the business of trade credit insurer Credit Indemnity & Financial Services Ltd (CIFS).