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  • Reinsurance focussed Lloyd’s insurer Liberty Syndicates continued its rapid advance last week when confirming that 2004 capacity will be £793mn – making it one of the largest Lloyd’s managing agencies behind Limit, Amlin and Hiscox.
  • Insurance claims are continuing to rise following severe storms on its East Coast over 9-10 June. The Insurance Council of Australia said the estimated cost of claims from the storm is now A$270mn.
  • Shares in UK listed broker Jardine Lloyd Thompson Group plc (JLT) have dropped 7 percent today ahead of the company’s announcement of its preliminary 2005 results tomorrow morning.
  • Lloyd’s has chosen the former head of the International Petroleum Exchange (IPE) Dr Richard Ward to become the next chief executive of Lloyd’s, Insider Week can reveal. But the Society is still waiting on the Bank of England to ratify the decision...
  • The Chinese authorities are targeting illegal operations of foreign insurers, according to the official Xinhua News Agency.
  • Lloyd’s insurer Amlin plc has revealed that the 9 months claims ratio is even lower for 2003 than last year – indicating a minimum of two years of strong underwriting returns.
  • US financial services behemoth Citigroup revealed the full impact of its previously announced $4.95bn second quarter charge to settle litigation springing from corporate scandal cases such as WorldCom and Enron as it unveiled its worse quarterly figures i
  • If a potential mediation fails, then February 2004 has been scheduled for the start of the World Trade Center dispute between the leaseholder, Silverstein Properties Inc, and various insurers led by Swiss Re.
  • Private equity investors The Blackstone Group and DLJ Merchant Banking Partners will sell their stakes in Bermudian (re)insurer Aspen Insurance Holdings Ltd in an underwritten public offering.
  • Swiss (re)insurer, Zurich Financial Services Group announced today that with immediate effect, Mike Kerner will become global chief underwriting officer for general insurance.