September 2007/5
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XL Capital has furthered the market trend in repatriating capital after announcing its second share buyback programme this year.
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Insured losses caused by last week’s Typhoon Wipha, which hit China and brought heavy rain to Shanghai, are not expected to reach $250mn, according to catastrophe modelling firm AIR Worldwide.
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Lloyd's has recruited a number of key London personnel to help the franchise in its continued bid to push process reform.
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Investment banks Morgan Stanley and Lehman Bros revealed the extent that they have suffered from the sub-prime crisis in the third quarter results last week.
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Specialist Lloyd's (re)insurer, Atrium Underwriting reported pre-tax profits of £23.8mn for the first half of 2007, an increase of 300 percent on the same period last year.
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Some of the charges against Independent Insurance's deputy managing director Philip Condon have been dropped this morning (24 September) on the instructions of the trial judge.
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Brit Insurance Holdings plc is to form a Gibraltar based protected cell reinsurer which will provide reinsurance to the UK insurance group.
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Lloyd's insurer Novae Syndicates Ltd (NSL) plans to close the 2002 year of account on its run-off Syndicate 1241 into its Syndicate 2007, it revealed on Friday (21 September).
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HCC Insurance Holdings, Inc has become the latest (re)insurer to be frustrated by the post-US sub-prime crisis credit crunch as it axed a $300mn debt issue on Friday (21 September).
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Pembroke Managing Agency, which was formed last year by Chaucer Syndicates in conjunction with Quanta Holdings, has appointed Mark Butterworth as its managing director.
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A series of tornadoes struck towns across England this morning (24 September) damaging homes and vehicles.
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The House of Representatives approved a Bill on 19 September that would extend the Terrorism Risk Insurance Act (TRIA) for 15 years despite the White House stating it would veto proposals unless amendments are made.
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