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  • Despite previously describing the Californian workers’ compensation sector as “crazy”, Berkshire Hathaway has agreed to replace Everest Re as the carrier on Acacia Pacific Holdings’ California Workers Compensation Program.
  • Recently floated Bermudian (re)insurer Alea revealed last week that CEO Dennis Purkiss will step down from the executive board at the end of June, with group president and COO Mark Ricciardelli taking the reins.
  • Shares in UK brokerage Jardine Lloyd Thompson (JLT) hit a three-year low last week on fears that the company’s profits would be hit by weaker than expected reinsurance volumes.
  • AM Best has affirmed the financial strength ratings of General Re at A++ (Superior).
  • Underwriting discipline in the turning market took top priority as US reinsurance industry leaders and Standard & Poor’s (S&P) analysts gathered in New York last week for the rating agencies annual insurance conference.
  • Australia’s financial regulators are continuing to bare their teeth by revealing last week that they are investigating reinsurance transactions made by Zurich Australia in 2000.
  • But US treasury warns of premature conclusions on renewal Hopes for extension of the Terrorism Risk Insurance Act (TRIA) in the US were raised last week as the US Treasury Department announced its decision to extend the “make available” provisions of
  • After two years of downward pressure on the sector, European reinsurers are at last seeing stabilisation in their financial strength, according to rating agency AM Best.
  • Details emerge of circumstances surrounding Gebauer's departure There were more developments in the ongoing litigation between German reinsurer R+V and managing agency Risk last week with the court appearance of R+V CEO Dr Jürgen Förterer at London's
  • A row has erupted between the Association of Insurance Risk Managers (AIRMIC), the Financial Services Authority (FSA), and the Treasury over plans to regulate UK risk managers in line with new EU regulations.