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  • Royal & Sun Alliance’s strategic move to lose its non-core international operations may extend to its Scandinavian arm – despite only last year saying the area was one of its three areas which it would focus on.
  • Berkshire Hathaway’s late decision to significantly reduce capacity on its subsidiary Lloyd’s insurer Marlborough helped keep Lloyd’s 2004 capacity below the headline £15bn capacity.
  • Struggling insurance group CNA provided a fillip to its de facto owners, the Loews Corporation, after reporting its first below 100 percent combined ratio for the fourth quarter – the first time for more than four years.
  • Bermuda-headquartered Aspen reported 2004 fourth quarter and full-year after tax net income up on 2003 last Thursday (3 March).
  • French insurer AXA has said that its 2003 profit measured by US GAAP accounting standards was EUR3.67bn ($4.5bn), compared to a EUR2.59bn loss in 2002 using the same standards.
  • Moody’s announced last week that it had downgraded giant reinsurer Swiss Re’s insurer financial strength and senior debt ratings from Aa1 to Aa2 and its subordinated debt rating to A1 over concerns of the sector’s earnings prospects and Swiss Re’s ability
  • There will be no significant insurance losses as a result of the terrorist attacks on the British Consulate and HSBC offices in Istanbul, Lloyd’s announced last week.
  • US insurer Chubb declared an increased quarterly dividend last Friday (5 March) of 39 cents a share, up 8.3 percent on the 36 cents paid out last quarter.
  • US insurer Markel Corporation is set to unveil a third quarter loss of up to $20mn later this week as it joined a list of (re)insurers announcing reserve increases in the third quarter.
  • Travelers Property Casualty Corporation became the latest insurer to announce positive news regarding a section of asbestos claims relating to statutory direct actions.