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  • Brit to pay outstanding claims
  • Ratings agency Standard & Poor’s (S&P) decided to leave (re)insurer Alea’s ratings unchanged last week, despite the group’s revelation that deteriorating results on pre-2003 US casualty business and the heavy hurricane losses would add between five and se
  • Insurers AIG, ACE and Aegis have settled their share of energy losses claimed by oil giant BP.
  • The Connecticut attorney general Richard Blumenthal vowed to launch a series of legal actions over alleged insurance industry abuses when he filed a lawsuit against Marsh and ACE Ltd last week.
  • ‘Placement Model Proposal’ endorses transparency; suggests additional fees may be charged. Marsh’s UK retail operation plans to offer customers a 2-5 percent discount off the “nett” price of cover, and has not ruled out charging the market extra...
  • Nigel Hanbury, the chief executive of Lloyd’s members’ agent Hampden Agencies, has been elected to the Society’s ruling body, the Lloyd’s Council.
  • Houston Casualty Company has merged its medical stop loss and group life insurance underwriting agency, HCC Benefits Corporation, into its life insurance arm, HCC Life Insurance Company (HCC Life).
  • Equitas has expressed its opposition to the Fairness in Asbestos Injury Resolution Act (FAIR) over fears that the proposed US legislation would fail to protect the run-off vehicle from going bankrupt.
  • Less than a year after joining Aspen Re as chief risk officer, Adrian Ballardie has left the reinsurer to join Tokio Marine Global as chief underwriting officer.
  • The dormant Reinsurance Australia Corporation, ReAC, is set to rebrand and begin underwriting – five years after it was brought to its knees by the low rates and high casualty losses of the late nineties.