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September 2007/1

  • New York law firms LeBoeuf, Lamb, Greene & MacRae LLP and Dewey Ballantine announced that they have entered into a definitive agreement to merge, subject to partner approval last week.
  • Lloyd’s investment vehicle Hampden Underwriting plc (HUP) is pushing ahead with its floatation on the London Stock Exchange’s Alternative Investment Market (AIM) despite falling to raise the £15mn it planned.
  • Stephen Mathers is to retire as active underwriter of Syndicate 807 for the 2009 year of account less than a month after it was announced that Andrew Carrier, the former active underwriter of Kiln’s Lloyd’s Syndicate 557 and the reinsurance division of it
  • French reinsurer SCOR has today announced its updated three-year strategy for creating a top 5 global reinsurer following the closing of its $2.8bn Converium Holding AG acquisition.
  • Quoted Lloyd’s insurer Heritage Underwriting Agency can merge its two trading syndicates despite the opposition of members’ agency Hampden Agencies Ltd.
  • Groupama UK has shrugged off competition to acquire the privately owned Lark Insurance Broking Group and continue the trend for UK insurers to acquire distribution channels, in a move that was swiftly followed by AXA's swoop for The Davis Group today
  • Hurricane Felix strengthened to Category Five yesterday (2 September) as it continued on a path for Honduras and Belize.
  • Benfield’s Corporate Risks (BCR) arm headed by former Marsh executive John Lapsley is continuing to drag down profits at the broking group, analysts have warned.
  • Oxygen Holdings plc, the independent London-based intermediary, has acquired Lloyd’s broker Robertson Taylor.
  • Sir Anthony Holland has been re-appointed as the Independent Complaints Commissioner for the Financial Services Authority (FSA) for a second term, which begins today (3 September).
  • A US bankruptcy judge has approved The Travelers Cos’ settlement of one of its largest asbestos cases for a total of $449mn.
  • Michael Bright, the former CEO of Independent Insurance, which collapsed in 2001, has told a court how the company was eaten from the inside out by a “black cancer”.