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OneBeacon reported net income dropped $125 million as a combination of insured and investment losses and a drop in written premium took a toll on earnings.
Westfield Group has named James R. Clay as its next group leader and chief executive officer while its chairman, Robert J. Joyce, said he plans to retire.
Arthur J. Gallagher & Co. said today that it has acquired the remaining 60 percent equity interest in Specialised Broking Associates Pty Ltd in Australia.
Having paid $256 million already in claims, BP will likely issue at least $60 million in advance payments in August to claimants across the Gulf Coast.
Standard & Poor's has raised Arch Capital Group's operating insurance and reinsurance companies' financial strength ratings to A-plus from A, reflecting the group's "strong management and well-conceived corporate strategy," according to the rating agency.
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