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  • As delegates gathered in Monte Carlo last Tuesday (9 September), Lord Levene, Chairman of Lloyds called for a return to underwriting for profit to stabilise and strengthen the international insurance industry.
  • Post-9/11 start-up Endurance officially opened the new offices of its FSA licensed London subsidiary on Friday morning (12 September).
  • Bermudian reinsurer Partner Re faces “only modest” claims from Hurricane Fabian, the category 3 storm which struck the island on 5 September.
  • Senator Orrin Hatch has not given up on his asbestos reform proposals and believes the measure may still make it to the Senate floor this year, despite being overshadowed by Iraqi funding, energy policy and Medicare concerns.
  • Lloyd’s insurer Advent Capital (Holdings) plc revealed a welcome return to profit after the devastations of the 2001 underwriting year.
  • The $10mn fine handed to AIG last week was a further sign that US regulators are scrutinising the industry’s penchant for complicated financial instruments.
  • Two months after its shock profits warning, listed Lloyd's insurer GoshawK has bolstered its management team by recruiting former ACE Tempest chief underwriting officer Russell Brooke to head up its Bermudian arm GoshawK Re.
  • UK motor insurer Highway Insurance Holdings plc unveiled below expectation 2003 interims last Friday (5 September) which included a dividend of 0.8p and a combined ratio of 99.5 percent.
  • Newly floated reinsurance broker Benfield unveiled solid interim results last Wednesday (3 September) with profit before tax and exceptional items increasing from £8.9mn to £28.1mn.
  • A"medium term" IPO for reinsurance spin-off Aspen Re has inspired London Stockbrokers Altium Capital to upgrade sister company Wellington Insurance Holdings from a hold to a buy recommendation.