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  • Bermudian Arch Capital announced on 26 January that it is to raise $200mn through a sale of Preferred Shares. The company stated that the purpose of the offering was to fund underwriting activities at its (re)insurance subsidiaries.
  • CNA Financial Corporation has reported a third quarter net loss of $155mn. The group's net loss in the current quarter is due primarily to an estimated loss of $304mn after-tax ($468mn pretax), net of reinsurance, from the 11 September attacks and related
  • Wellington Underwriting plc has announced that the Group's managed syndicate 2020 plans to double its underwriting capacity to $1bn for 2002, and that the Group was examining the options available to raise the capital needed to support the growth of the b
  • A landmark UK High Court decision last week likely to increase payouts on some unsettled bodily injury claims will hit reinsurers hardest and lead to rising premiums, according to Swiss Re.
  • Specialist insurance services organisation Axiom Consulting has agreed a major deal to supply an outsourced accounting facility to London-based insurer Canopius.
  • AIG-backed Lloyd’s insurer Ascot has withdrawn from fine art underwriting, it emerged last week.
  • HCC Insurance Holdings revealed last week that it will take a third quarter charge of $17mn – the equivalent of 16 cents a share – after commuting around $145mn of reinsurance recoverables.
  • The premium income of the four major European reinsurers grew by 2 percent in aggregate following this year’s renewals season, according to research from brokers Benfield.
  • Lloyd’s has announced that Philip Lader, formerly US ambassador to the United Kingdom, will join the Lloyd’s Council as a nominated member.
  • French (re)insurer SCOR will take up membership of the pools Réunion Aérienne and the Réunion Spatiale on 1 January 2006. SCOR, whose application to join the pools was accepted in November, will take a 5 percent share of each pool.