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  • Releases from prior year loss reserves have helped Hardy Underwriting Ltd improve its profit estimates on the 2001 year of its Lloyd’s Syndicate 382.
  • Despite recording healthy half yearlies significantly outpacing analysts’ expectations, Zurich Financial Services (ZFS) continues to be clouded by concerns over its loss-making finite reinsurance arm Centre.
  • Litigation Control Group Ltd, the insurance services company formed by ex-Lloyd’s debt collector Philip Holden, has acquired Trenwick Group’s run-off insurer Trenwick International Ltd.
  • After an eight-year dispute with claimant Minnesota Mining & Manufacturing (3M), insurers lost a $250mn legal battle over liability associated with silicone gel breast implants.
  • Sovereign Risk Insurance Ltd, the political risk insurer set up as a joint venture between Bermudian giants ACE Ltd and XL Capital Ltd, revealed net written premiums of $48.6mn (GWP $60.5mn) for the year ending 30 June 2003.
  • US (re)insurance group The Hartford Financial Services announced last Wednesday that profits for the second quarter increased nearly threefold on the same period last year.
  • Bermudian reinsurer Partner Re has followed a solid first quarter with a stronger second quarter performance, comfortably beating analysts’ expectations.
  • The future of Trenwick Managing Agents Ltd was secured last week, after the Lloyd’s insurer’s management agreed a buy-out from its distressed parent, Trenwick Group Ltd.
  • In the wake of alleged dubious selling practices from the notorious claims manager The Accident Group, a recent study has concluded that at least a third of all claims against local councils may be fraudulent or exaggerated.
  • In a report last week, Hartford Investment Management Company – a subsidiary of US insurer The Hartford Financial Services Group – counselled against complacency over inflation.