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Daily NewsFlash : August 02, 2013

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Friday, August 02, 2013

Cayman Captive Industry Hits All Time High

Captive activityThe Cayman Islands captive insurance industry hit an all-time high of US$13.5 billion in total premiums and US$82.8 billion in total assets as at 30 June 2013. These figures are up 52 p...

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Jury Finds Ex-Goldman Sachs Trader Fabrice Tourre Liable for Defrauding Investors

Goldman Sachs trader guiltyA federal jury found former Goldman Sachs Group Inc. trader Fabrice Tourre liable for misleading investors in a mortgage-linked deal that collapsed during the financial crisis, delivering a historic win for a U.S. regulator eager to prove its mettle inside the courtroom.

The panel of ni...

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Government Signs Deals with Major Web Insurance Marketplaces for Obamacare Enrollment

Obamacare and website dealsThe federal government has signed five landmark deals that set the stage for major web insurance markeplaces to enroll potentially millions of people in Obamacare, CNBC learned late Wednesday.

Those deals, experts have said, could dramatically boost enrollment in those ma...

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Cigna Reports Strong Second Quarter 2013 Results, Raises Outlook

CIGNA second quarter profitsCigna Corporation today reported strong second quarter 2013 results, with each of the Company's business segments posting revenue and earnings growth.

Consolidated revenues in the second quarter of 2013 were $8.0 billion, an increase of 8% over the second quarter of 2012. R...

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Selective Insurance Group Q2 Profit Soars

Selective profitsSelective Insurance Group Inc. this week said second-quarter profit surged to $27.1 million or $0.48 per share from $0.3 million or $0.01 per share in the comparable quarter last year.

Operating income for the quarter was $23...

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AIG Posts Higher 2Q Profit; Declares Dividend

AIG ProfitsAmerican International Group Inc. (AIG) said Thursday that its profit grew 17 percent in the second quarter as the insurer benefited from higher net premiums, prices and income from investments.

The New York-based company also declared a 10-cent quarterly dividend its first since it nearly collapsed in 2008...

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Fitch Publishes Report on U.S. Terrorism Reinsurance and TRIA Legislation

Fitch report on TRIARecently legislation was introduced in the U.S. House of Representatives to extend the Terrorist Risk Insurance Program Reauthorization Act (TRIPRA), which expires Dec. 31, 2014. This is the opening act of a likely heavily debated process on the possibility of extending and/or mo...

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