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  • Rating agency Standard & Poor’s last week revised its outlook to negative on Aon after the broker’s latest interims showed the firm’s margins continue to lag behind its peers.
  • AlphaStar – the firm trying to rise from the ashes of Stirling Cook Brown (SCB) – has landed itself in hot water with Nasdaq for late filing violations.
  • AIRMIC has announced its risk management standard is to be taken on by risk managers across Europe.
  • Aon Limited’s Risk Management Solutions (ARMS) division launched a Security Insurance offering on 6 October that will allow companies to fund major business initiatives while providing long-term financial security to third parties.
  • French insurer AXA Group announced last week (2 October) a series of managerial appointments in its Mediterranean and Japan Asia Pacific divisions as it paves the way for integration with recently acquired Winterthur.
  • It took 18 months for ACE Ltd to persuade the Pennsylvania Insurance Commissioner to approve the sale of its asbestos riddled Brandywine subsidiaries, so R&SA shareholders might be in for a long wait before they see their US legacy business spun-off.
  • In the week that Talbot is set to announce a profitable sale to Bermudian (re)insurer Validus (see article 7), its predecessor company, Allegheny Underwriting drew-down a further £29.9mn from the Lloyd's Central Fund to cover its legacy losses.
  • The drive for meaningful asbestos reform in the US took a big step forward last Thursday as the Senate Judiciary Committee marginally voted in favour of Senator Orrin Hatch’s Fairness in Asbestos Resolution Act.
  • Portuguese conglomerate Sonae SGPS has acquired a 14 percent stake in the independent reinsurance broker Cooper Gay (Holding) Ltd with the option to double its stake to 28 percent.
  • Lloyd's Syndicate 2999, managed by Limit Underwriting Limited, has received a first time B Average performance with a stable outlook by Moody’s rating agency.