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  • The insurance and reinsurance sectors are the most exposed industries in the short term to increases in the prevalence of obesity, a new report from Dresdner Kleinwort Wassertein Research (DrKW) has concluded.
  • World’s third largest broker Willis announced last Wednesday (23 June) that it has reached an agreement in principle to buy a majority shareholding in Irish broker Coyle Hamilton, and to buy the outstanding interest over the next few years.
  • Despite operating momentum building from last year into first quarter 2004 results, the property/casualty industry faces its biggest challenge in its ability to maintain underwriting discipline as premiums fall off and surplus levels rise, according to AM
  • 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