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September 2004/4

  • Rating agency Fitch has assigned Insurer Financial Strength (IFS) ratings to six Japanese life insurance companies.
  • A difficult year for motor specialist Cox continued last week with a set of interims that saw a halving of pre-tax profits to £13.7mn from £28.3mn for the same period in 2003.
  • Political posturing over proposals for a compensation fund for asbestos victims stepped up last week as reprised negotiations between Senators Tom Daschle and Bill Frist renewed hopes that a solution may be in the pipeline.
  • A trend gathering pace? Benfield Group has become the latest broker to recruit from a reinsurer with the appointment of former Swiss Re chief Patrick Murphy-O’Connor to its management team.