September 2008/5
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Carl Phillips, currently head of operational services at Amlin will be joining Lloyd's to head up its market operations, The Insurance Insider has learnt.
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London-based independent (re)insurance broker United Insurance Brokers (UIB) has registered its Brazilian operation as the list of companies taking advantage of the country's deregulation continues to grow.
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PARIS RE Holdings Ltd has bought out founding shareholder FI Equity Partners BV's 5.36 percent interest in the company in a EUR55.5mn transaction.
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Lloyd's investment vehicle Hampden Underwriting PLC (HUP) made a modest profit of £148,000 from its opening six months of underwriting as start-up costs took their toll.
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Lloyd's has shortened the list of potential providers for its new messaging hub to three, The Insurance Insider has learnt.
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QBE Group has formally parted company with Tim Kenny, the head of its US operations, The Insurance Insider revealed last week.
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Alice Schroeder's biography of Warren Buffett "The Snowball - Warren Buffet and the business of life" has gone on sale today (29 September) as the actions of its subject continue to dominate the headlines.
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AXIS Capital estimates that its net loss exposures to Hurricanes Gustav and Ike will be between $310-$430mn, adding to the industry's toll of heavy 2008 catastrophe losses and providing further evidence of the damage wreaked by Ike earlier this month.
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Hank Greenberg, the former American International Group (AIG) chief executive, sold 40 million shares in the fallen insurer, netting around $126mn last week.
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UK-listed run off firm Tawa plc saw its share price fall a further ten percent last week after profits slumped on continuing losses from the bond portfolio of its CX Re subsidiary, the former London-headquartered reinsurer CNA Re.
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Federal prosecutors in the case involving five former General Re and American International Group Inc (AIG) executives who were found guilty for their part in a sham reinsurance transaction are tying the deal to shareholder losses of $1.4bn.
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Liberty Mutual Group has fought back against its downgrade by Standard & Poor's (S&P) following the closure of its $6.2bn acquisition of rival Safeco last week.