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  • The triumvirate of financial institution brokers who left Aon last summer have finally completed their notice period and joined Willis.
  • Stabilising economic conditions and effective portfolio management are factors warranting a stable outlook for the European credit insurance industry, says ratings agency Moody’s.
  • Ratings agency Moody’s says improved underwriting performance, historically cautious reserving practices and relatively low levels of financial debt justify its stable outlook for German non-life insurers.
  • German reinsurer Munich Re went on the offensive last week by publishing its objectives for the coming year - key of which was the restoration of its treasured double-A rating.
  • Last week saw victory for Californian governor Arnold Schwarzenegger in his crusade to reform the state’s troubled workers’ compensation system, as a landmark bill was passed with an overwhelming 77-3 vote in the State Assembly and 33-3 in the Senate.
  • MMC is facing the prospect of a further, unwelcome regulatory probe as the New York Attorney General Elliot Spitzer examines commission payments charged by insurance intermediaries such as Marsh, the world’s largest insurance broker.
  • Diana Humphreys, the managing director of the utility mutual Associated Electric & Gas Insurance Services Ltd’s (AEGIS) London arm, has suddenly resigned from the company.
  • Strong performance from German reinsurer Hannover Re has been rewarded with an upgrade to a positive ratings outlook from Moody’s.
  • Marsh & McLennan Companies (MMC) chairman Jeffrey Greenberg has followed in his father’s footsteps by being appointed to a prestigious position on the New York Stock Exchange’s (NYSE) executive board.
  • Lloyd's last week announced record profits of £1,892mn on the back of a benign loss environment and high premiums. The profits, recorded on a pro-forma annual accounting basis, represent a 127 percent increase on 2002's figure of £834mn.