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  • ACE Global Re said last week that it would look to build its business operations in the finite risk reinsurance market.
  • Fast growing Bermudian post-9/11 start-up AXIS capital saw its new European headquarters officially opened in Dublin last Wednesday (8 July) by Irish finance minister Charlie McCreevy TD.
  • Ratings agency Moody's has assigned a "Ba2" rating with a negative outlook to a proposed subordinated debt issue by Royal & Sun Alliance (R&SA).
  • Benign loss conditions in the US property casualty sector continued into the second quarter as insurers are expected to payout just $1.65bn in catastrophe claims – the lowest figure for the quarter since 2000.
  • Underwriting discipline and capital management were very much at the top of the agenda as an expected 500 (re)insurance executives gathered at the London Hilton this morning (12 July) for the 40th annual International Insurance Society (IIS) seminar.
  • Ratings agency AM Best said it had extended the financial strength rating of the MONY Group’s insurance subsidiaries to “A+”, following its merger with AXA.
  • Fitch Ratings announced it is maintaining its Positive outlook on the non-life sector in France, despite the coming downturn in the market and warnings of a looming price war.
  • There was an interesting insight into the Royal Courts of Justice dispute between oil giant BP and Swiss Re, AIG, AXA, ACE, Aegis and other international insurers this week with the publication of Justice Colman’s reasons for denying summary judgment in t
  • Lloyd’s chairman issues “warning and a plea” to global leaders to maintain rates The insurance industry cannot afford to allow rates to prematurely soften, Lloyd’s chairman Lord Levene has warned.
  • Germany’s Hannover Re received a boost last week with the news that ratings agency Standard & Poor’s (S&P) has upped its outlook on the reinsurer from negative to stable to reflect its improved reinsurance recoverables position.