November 2009/2
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Spanish competition authority the Comisión Nacional de la Competencia (CNC) has fined local insurers Asefa, Mapfre and Caser as well as leading global reinsurers, Munich Re, Swiss Re and Scor a total of EUR120mn for operating a cartel.
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Rating agency Fitch said its concerns over reinsurers' ability to tap capital markets following a significant catastrophe have "sufficiently eased" after revising its outlook on the global reinsurance sector from negative to stable.
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Marketform, the Lloyd’s insurer majority owned by the US firm Great American Insurance Group, is undertaking a significant reshuffle of its executive operations to improve its “corporate governance”.
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UK insurer Brit has laid out the timetable for its redomicile to the Netherlands in a reorganisation that it is expected will see a new holding company listed on the London Stock Exchange on 21 December.
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So-called ‘mega-claims’ are now a common occurence in the power (re)insurance market, with almost half of the $9.85bn total loss recorded over the last ten years the result of just 16 claims.
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The share price of UK-quoted Randall and Quilter (R&Q) had fallen by 15.02 percent to 107.5p at the time of writing in the wake of today’s crucial LMX-related High Court judgment against the run-off management firm.
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The International Association of Insurance Supervisors (IAIS) highlighted the important role of microinsurance "as a means of socio-economic development" at its annual conference.
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US insurers Seaton Insurance Co and Stonewall Insurance Co's long-running case against Randall & Quilter (R&Q) founder Ken Randall is approaching appeal.
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Just under 200 investors, advisors and sponsors gathered in New York for Trading Risk's annual executive briefing last month to discuss market issues.
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Fairfax Financial Holdings (FFH) has described the shareholder class action suit filed against it over the acquisition of outstanding minority interests in OdysseyRe as a "nuisance suit".
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Bermudian (re)insurer Mariner's proposed solvent scheme was sanctioned by the Bermudian Supreme Court, the first approval since the Scottish Lion decision.
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It’s the new buzz term in the industry's lexicon, but is it more than that? The Insurance Insider went all the way to Senegal to find out…
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Gilmour also to join Enstar-backed firm as new CEO arrives.
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Former Benfield Group chairman is frontrunner...
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Moody's and Standard & Poor's (S&P) must respond to fraud charges accusing them of masking the risks of the collapsed Cheyne Structured Investment Vehicle (SIV).
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French reinsurance group Scor is understood to be contemplating a new cat bond in the Atlas series, while leading ILS manager Goldman Sachs is working on three ILS...
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Industry loss warranty (ILW) volumes in Q4 have been boosted by livecat trading during October's Typhoon Melor and the purchase of Europe-exposed and US quake peril contracts.
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In a landmark decision, a UK High Court Judge has ruled that Berkshire Hathaway’s run-off vehicle Equitas may recover reinsurance losses based on modeled calculations of the notorious LMX spiral from Randall & Quilter (R&Q)-owned reinsurer Brandywine.
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O’Neill set to join Marketform; R&Q named ARC company of the year; UK non-life run-off liabilities up 30%...
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As the major brokers reported their Q3 results Aon was left defending the effect that its $1.4bn purchase of independent reinsurance broker Benfield in Q3 2008 had...
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Strong trading at Q3 but how will its credit/political risk exposures develop?
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(Re)insurers are not banks, says Geneva Association; Axa on M&A trail with EUR2bn rights issue; Hedge fund takes Glacier reins; IPC gains boost Validus and Max profits...
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Mitsui Sumitomo hires senior franchise exec; Wildnet investors sell stakes; Corfield leaves Liberty; AEGIS London enters A&H; Brit parts company with PI execs...
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The broking giant and AIG were served with a lawsuit by US commodity producer and distributor Seaboard Corp at the end of October.