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  • Legislation curbing the appetite of the US plaintiff bar to launch obesity class action suits took a step closer to reality after a US House of Representatives committee recommended the proposals to a formal vote.
  • Analysts applauded Munich Re’s announcement last week (26 February 2004) that it would effectively dilute its shareholding in HypoVereinsbank (HVB) by not participating in the bank’s current equity issue.
  • Standard & Poor’s (S&P) has raised its counterparty credit and insurer financial strength ratings on Zurich Financial Services (ZFS) from A+ to AA- citing the group’s “major and sustained improvements” in its operating performance.
  • 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
  • Management at HCC have confidently predicted that the firm will achieve, or better, its consensus earnings of $2.55 per share for 2006.
  • Resurgent French reinsurer SCOR is facing the threat of a sizable hit from the recent $2bn settlement between (re)insurers and the World Trade Center (WTC) developer Larry Silverstein.
  • Bermudian (re)insurer White Mountains Re Group Ltd (White Mountains) ploughed its own furrow in the insurance field with an announcement of a $250mn offer of fixed/floating perpetual non-cumulative preference shares.
  • Amlin Bermuda has picked up underwriter Richard Holden from Wellington Underwriting plc following the Lloyd’s insurer’s merger with rival Catlin.
  • The promotion of Donald Kanak as AIG’s joint vice chairman and co-chief operating officer has muddied the succession issue of Maurice “Hank” Greenberg, the septuagenarian patriarch of the world’s most valuable insurance company.
  • President Bush boosted hopes of US tort reform last week when he staged a series of events putting the case for limitations on lawsuits.