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  • German insurer Allianz reported a 35 percent increase in profits in its revised first quarter results on 12 May. Net profit rose to EUR1.78bn this year from EUR1.32bn in the prior-year period.
  • Insurance broker Willis Group Holdings Ltd cancelled a $300mn debt issue last week - a move that has led to speculation the firm is again considering a significant acquisition.
  • Heritage’s Syndicate 1245 is now predicting a loss of 52 percent capacity on its 2002 underwriting year. The Lloyd’s insurer decided last year to keep the syndicate open because of uncertainties relating to its controversial US bail bond losses.
  • The United States Senate has passed legislation by an 84 to 18 vote that will assist insurers in the event of a catastrophic terrorist attack.
  • Directors and employees of brokers Benfield have sold stocks worth £38mn as part of a placing of over 12 percent of the company's shares.
  • Lloyd’s broker Agnew Higgins Pickering has announced the retirement of Chairman Tony Pickering.
  • Beazley Group’s head of specialty lines Johnny Rowell has acquired a further 650,000 shares in the Lloyd’s insurer in an apparent demonstration of his confidence in the company’s prospects and current trading conditions.
  • Bavarian-based (re)insurance giant Munich Re moved a step closer to restoring its once cherished double A rating on 27 June, with the news that Standard & Poor's (S&P) had revised its outlook on the company's A+ rating from stable to positive.
  • Specialist insurance lawyer Nigel Montgomery is leaving DLA Piper Rudnick to head up a new team at US law firm Sidley Austin’s London office. Montgomery has a background in insurance restructuring, focusing on schemes of arrangement and business...
  • Hiscox plc’s planned sidecar Panther Re came closer to fruition today (13 November) with rating agency Moody's Investors Service assigning a provisional (P)Baa3 rating to the $72mn senior loans and a provisional (P)Ba2 rating to the $144mn mezzanine loans