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  • Swiss Re - the world's largest reinsurer - will lose 2,000 jobs following its acquisition of GE Insurance Solutions.
  • UK headquartered broker JLT Risk Solutions has opened an office in Dubai’s International Financial Centre.
  • Quarterly profits were up to $137.8mn, compared to $126mn in the prior-year period, at Bermudian (re)insurer Arch Capital when it announced its results on 27 July.
  • Lloyd’s confirmed today (3 February) that it will pursue legal action against Benfield and Aon, the two brokers who placed the £500mn Central Fund insurance contract which failed to engage following an arbitration decision last year.
  • Swiss Re - the world's largest reinsurer - will lose 2000 jobs following its acquisition of GE Insurance Solutions. The reinsurer said it has already reduced 250 positions, many at “management level”.
  • Swiss reinsurer Converium paid the price of getting its $420mn rescue rights issue package approved last week, with news that it faces at least four shareholder class actions following this summer’s revelations that it was significantly under-reserved.
  • XL Capital has replaced Rob Lusardi, the head of one of its three core business units, with Paul Giordano.
  • UK general insurer Royal & Sun Alliance (R&SA) announced first quarter pre-tax profits of £122mn, unchanged from the corresponding period of 2005.
  • AXIS Capital Holdings Ltd (AXIS) announced strong results for the first quarter 2007, citing new reinsurance business in the US and Europe as the main driver.
  • AIG has lashed out at one of its reinsurers in a strongly worded complaint filed in the US District Court of the Southern District of New York.