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  • In the week that CNA announced the exit of its under-performing reinsurance business CNA Re, its former head Bill Adamson is promoted to replace Peter Scanlan as the head of RK Carvill’s US arm, Carvill America Inc.
  • Royal & Sun Alliance will be hoping for a quiet few days after last week’s double whammy of PR hits.
  • Benfield announced this week the creation of a terrorism reinsurance facility for all private insurers of property risks within the Swiss insurance market.
  • California Insurance Commissioner John Garamendi wasted no time last week in getting Governor-Elect Arnold Schwarzenegger on side in his quest for workers’ compensation reform.
  • As another Republican stepped in to try and rescue stalling asbestos reform, ratings agency AM Best released a report estimating that US property/casualty reserves still fall short by nearly 40 percent.
  • As toxic mold, leaded paint and other liability nasties vie for the crown of “the next asbestos”, a new challenger has entered the fray – toxic-chemical exposure in the high tech electronics industry.
  • Things went from bad to worse for GoshawK last week when ratings agency Moody’s downgraded Syndicate 102’s performance rating and delivered a downbeat assessment of its future prospects.
  • Credit Lyonnais chairman resigns over Executive Life scandal Jean Peyrelevade, the chairman of French banking Group Credit Lyonnais, has resigned following the Executive Life Insurance Company scandal.
  • It seems that legislation to bring in an asbestos trust fund to compensate victims and end expensive lawsuits will stay log-jammed in the Senate after insurers refused to compromise on the contributions they would have to make.
  • Swiss reinsurer Converium has unveiled a new organisational and financial reporting structure, together with a management shake-up.