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  • A new report by Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, estimates that approximately $1.8bn of catastrophe-linked securities were placed in 2003, with the trend towards innovative transa
  • Accounting irregularities have been found at the predecessor firm of China Life, the Chinese life insurance company that held the world's largest IPO in December 2003.
  • On the eve of the key 12 February renewal date for shipowners’ protection and indemnity cover, came encouraging news from rating agency Standard & Poor’s (S&P).
  • Lloyd’s insurer Wellington has appointed outsourcing firm Xchanging to handle its treaty claims written before it spun-off its reinsurance arm into Aspen in 2002.
  • Mutual Risk Management filed a lawsuit against US insurer John Hancock last week blaming it for contributing to the Bermudian based programme manager’s demise.
  • Sian Fisher became the second respected London market executive to announce a surprise resignation last week when she ended her 18-year relationship with Hiscox, a day after Lloyd’s finance director Andrew Moss resigned.
  • A week after announcing its higher than expected fourth quarter reserve charge, US insurer St Paul unveiled fourth quarter operating figures last Wednesday that just about broke even.
  • US property casualty giant Travelers announced a solid if unspectacular set of fourth quarter results last Wednesday (28 January), coming in just short of analysts’ consensus estimates, and then learned it was likely to see its S&P ratings aligned with St
  • US giant The Hartford ended a tumultuous 2003 on a high as it delivered a strong fourth quarter performance to post net income per diluted share of $1.59, 57 percent higher than the $1.01 achieved in the last quarter of 2002.
  • In the second of the week’s investment rating downgrades, Morgan Stanley analysts have changed their rating on shares of Berkshire Hathaway from overweight to equalweight.