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  • Specialist insurer Hardy Underwriting Group plc received approval from Lloyd’s for its new Syndicate 3820 on 19 October.
  • Tort reformists in the US have received a boost with the news that the Senate judiciary committee approved a series of changes to state laws governing civil lawsuits in medical malpractice cases last Thursday (27 January).
  • The proposed WFUM pool scheme of arrangement, involving 16 different insurance companies, was granted leave to convene creditors’ meetings by the UK High Court today (9 June).
  • Allianz, Europe's largest insurer, will inject $750mn into its US subsidiary Fireman’s Fund to cover asbestos-related claims, doubling its reserves to $1.51bn.
  • Kyrill may trigger Hannover Re's $150mn cat bond Eurus Ltd, which was placed on CreditWatch with negative implications by Standard & Poor's (S&P) on 8 February.
  • Bermudian giants ACE Ltd and XL Capital announced catastrophe charges of $88mn and $30mn respectively for the UK, US and Australian floods in their Q2 results.
  • Underwriting has become key to insurers profitability in the current low-yield financial environment, according to Swiss Re’s latest Sigma report. The report found that the non-life insurance industry posted sound underwriting profits in 2004. Over...
  • Zurich Financial Services announced last week that Mike Foley, the head of McKinsey's US P&C insurance practice, will become the chief operating officer for its North American Commercial unit.
  • John Murphy, the underwriter of Abacus’ Syndicate 2525, is to form a new operation with rival managing agency Brit.
  • Bermudian powerhouse AXIS Capital reported record second quarter net income of $223.4mn, or $1.37 a share, up 29 percent on the prior-year period on the back of increased investment income on 7 August.