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  • St Paul Travelers’ previously announced $687mn tax charge on the sale of its stake in Nuveen Investments contributed to the company booking net income of just $212mn or $0.31 a diluted share for the first quarter, down from $587mn or $1.31 a diluted share
  • World Trade Center leaseholder Larry Silverstein succeeded in persuading US district court judge Michael Mukasey to issue a “confidentiality order” over mediation discussions between the remaining ten insurers.
  • CV Starr & Co (California), a subsidiary of Hank Greenberg's CV Starr, has hired former AIG executive Jeffrey Hafter as executive vice president in charge of developing the East Coast operations under the agency's Pacific Starr of New York, Inc. entity.
  • The first of six Lloyd’s capacity auctions was a sluggish affair It was a slow and entirely expected start to the annual Lloyd’s auctions, where the right to participate on Lloyd’s syndicates is bought and sold. The declining number of names and syndi
  • UK risk managers’ representative body AIRMIC has welcomed a statement from the Financial Services Authority (FSA) that many group risk managers will be spared from regulation imposed by the Insurance Mediation Directive when it comes into force at the sta
  • Besieged Swiss reinsurer Converium revealed on 4 November that Group CFO Martin Kauer had handed in his resignation and would be leaving the company in early 2005.
  • Fast growing Bermudian post-9/11 start-up AXIS capital saw its new European headquarters officially opened in Dublin last Wednesday (8 July) by Irish finance minister Charlie McCreevy TD.
  • Following its rival ACE, XL Capital announced plans to raise over $600mn through the sale of 7mn ordinary shares in the light of the improving rating environment.
  • To avoid over-writing and the shortage of reinsurance, syndicates are buying in-house quota share cover and planning capacity expansions for 2002. But what impact will these have on the 2001 capacity auctions?
  • French reinsurer SCOR has booked 18 percent less in gross written premiums in the first half of 2003 compared to the comparable period last year.