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  • Heath Lambert Group, the world’s seventh largest broker, has unveiled a management shuffle as part of a financial restructuring which may end speculation about the Group’s future.
  • Like its slightly larger German rival Munich Re, Swiss Re has been recently downgraded by S&P. But at least the reinsurer has reported improved half-year results, returning earnings of SFr691mn up from SFr118mn for the first six months of 2002.
  • Against the backdrop of US tort reform, some US insurers are lobbying to increase Equitas' burden of asbestos claims, warned Equitas’ new chief executive Scott Moser this month. Speaking at Equitas' annual meeting on 12 September, Moser applauded the
  • Reinsurance specialists BMS Group have restructured their international arm BMS International Intermediaries Ltd and appointed Tom Gleis as managing director to replace the departed Steve Higginson.
  • The former GoshawK chief executive Chris Fagan is set to acquire the run-off Bermudian reinsurer Overseas Partners Re Ltd (OP Re) with backing from Japanese private equity house Nikko Principal Investments Ltd.
  • French reinsurer SCOR SA successfully closed its EUR160mn Atlas IV cat bond transaction, taking its tally of insurance linked securities deals to five.
  • Oxygen Holdings plc, the independent London-based intermediary, has acquired Lloyd’s broker Robertson Taylor.
  • Liability start-up Illium began trading last week, issuing quotes for risks which attach from 1 January 2004.
  • Last-ditch efforts apparently failed last week to resolve a long running dispute between the French authorities and US federal and state prosecutors over the Executive Life debacle.
  • A legal dispute between Westfield, owners of the retail area of the World Trade Centre, and Zurich Insurance over supplementary cover has been voluntarily dismissed with both sides agreeing to resolve their differences in a mandatory arbitration hearing.