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  • Rating agency Standard & Poor’s (S&P) announced today (13 March) that it has downgraded The Cologne Re of Dublin (TCR) from AAA to A following its parent Berkshire Hathaway’s decision to put it into run-off last December. The reinsurer, which wrote...
  • UK broker Heath Lambert Group appointed Nigel Thomas as group finance director on 9 March. Thomas joined Lowndes Lambert in 1995 and was involved in the financial aspects of the Lowndes Lambert/Fenchurch Group merger and the subsequent Lambert...
  • A US bankruptcy judge has approved The Travelers Cos’ settlement of one of its largest asbestos cases for a total of $449mn.
  • Atrium managed Syndicate 570 has had its "A" (good) status affirmed by ratings agency Moody's, following an annual review of the syndicate's performance.
  • The first conviction relating to the 2001 collapse of Australian insurer HIH went to former finance officer Bill Howard – but his two year sentence was suspended on condition that he continues to co-operate with prosecutors.
  • On the back of strong reserve building in recent years, the short-fall in US property & casualty reserves has declined to $80bn, estimates industry analysts Morgan Stanley.
  • French reinsurer SCOR SA successfully closed its EUR160mn Atlas IV cat bond transaction, taking its tally of insurance linked securities deals to five.
  • Bermudian (re)insurer XL Capital has appointed Brian Nocco as its new chief financial officer.
  • Ratings agency Fitch has affirmed insurer Brit’s “A” financial strength rating, with a positive outlook, after the firm announced a capital reorganisation.
  • Brokers Jardine Lloyd Thompson (JLT) has announced the acquisition through its US based subsidiary, Capital Risk LLC, of the business portfolio and related assets of HCC Employee Benefits.