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  • Despite cautious optimism that class action reform legislation might finally make it to the statute book, the Class Action Fairness Act went the same way as other recent tort reform initiatives as it died on the Senate floor last Thursday (8 July).
  • US insurer C.N.A became the latest carrier to reveal sizable additions to loss developments last week when announcing a $308mn after-tax charge to second quarter earnings.
  • US insurer St Paul disappointed investors last Wednesday (30 July) with earnings below a revised analysts’ consensus, and considerably down on previous projections.
  • Hannover Re chairman Wilhelm Zeller once again declared his satisfaction at the German reinsurer’s interim results, as he confirmed that with half year operating profits of $375.4mn, the group was well on track to meet its annual targets.
  • Crédit Lyonnais has announced that it has reached agreement with the United States Attorney's Office to settle a long running investigation into the French bank's 1991 acquisition of Los Angeles-based Executive Life Insurance Company. In a statement po
  • As concrete barriers were erected around the Palace of Westminster last week, Swiss Re released a publication concluding that terrorism risks resulting in property and business interruption losses are insurable, even in the post-9/11 world.
  • Geoff Bromley has left the global reinsurance broker, Guy Carpenter & Co, where he was chairman of the company’s non-Americas operations in Europe and Asia-Pacific, The Insurance Insider can reveal.
  • American International Group's (AIG) life insurer, AIG Life, was granted a license to conduct its group insurance operations from the Qatar Financial Centre (QFC).
  • Arch Capital Group has recruited the former Chubb D&O specialist Ralph E. Jones III to lead its challenge into the US professional indemnity sector.
  • Despite US legislation last year mandating insurers to provide compulsory terrorism cover, reinsurance companies appear reluctant to assume any of the new exposure. This was one of the many findings of the ratings agency Moody’s survey into the implementa