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  • US insurer St Paul is defending fresh asbestos related litigation as plaintiffs argue the company was negligent for failing to warn of the dangers.
  • US insurer C.N.A became the latest carrier to reveal sizable additions to loss developments last week when announcing a $308mn after-tax charge to second quarter earnings.
  • 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.
  • Rating agency Standard & Poor’s last week revised its outlook to negative on Aon after the broker’s latest interims showed the firm’s margins continue to lag behind its peers.
  • North American broker group Hub International Ltd has withdrawn from a proposed acquisition of the Near North National Group – the second time in under a year that take-over talks have collapsed at the 11th hour.
  • Three Financial Institutions brokers from Aon have resigned to take up posts at rival broker Willis.
  • In a report last week, Hartford Investment Management Company – a subsidiary of US insurer The Hartford Financial Services Group – counselled against complacency over inflation.
  • Quoted Lloyd’s insurer Amlin is upbeat about its 2003 prospects, as the company updated its forecasts for the 2001 and 2002 years.
  • Reinsurance giant Swiss Re is to buy a proportion of the UK life insurance business of its compatriot Zurich Financial Services (ZFS) in a deal worth a total of $460mn. The move follows Zurich Life’s decision to stop taking on new business from 27 August.
  • South African insurance broker Alexander Forbes has launched a joint venture with PDS Holdings which plans to become Africa’s largest reinsurance broker, the firm announced last week.