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August 2013/3

  • Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers
  • Software firm SanDisk has told a California federal court that demands from Zurich Insurance Group for extra information on a disputed claim regarding a power cut at its Japanese semiconductor fabrication plants are "overbroad".
  • American International Group (AIG) has asked a California federal court to dismiss a lawsuit alleging that the insurer's taxpayer-funded 2008 bailout was "fraudulent" on the grounds that it has no basis in fact.
  • The Lloyd's Franchise Board has devised a system of ranking syndicates to pick out the worst-rated performers for greater oversight, The Insurance Insider understands.
  • In one year, the availability of capital has gone from being insurers' second-biggest concern to their 16th-biggest, according to a PwC survey.
  • The Indian regulator has loosened its controls on insurance broking amid signs that the world's largest democracy is beginning to respond to criticism of its highly regulated and protectionist approach.
  • Meadowbrook is likely to receive interest from legacy buyers after the company effectively put itself into play by appointing Willis Capital Markets to conduct a strategic review.
  • Catalina, Fairfax Financial Holdings and Tower Group have reached an agreement under which Fairfax will buy American Safety Insurance (ASI) and Catalina will purchase American Safety Re to end the bidding war for the US insurer.  
  • A collateralised reinsurance deal for the Texas Windstorm Insurance Association (TWIA) has resulted in the debut bond issuance from service company Kane's private cat bond platform.
  • Qatari-backed collateralised reinsurance fund Catco now has a 20 percent share of the retro market, according to the London-listed firm.  
  • Chaucer's nuclear Syndicate 1176 has lifted its forecast mid-point result for the 2011 year of account from a predicted 7.5 percent loss to a 7.5 percent profit.
  • As we enter the peak North Atlantic windstorm catastrophe season there was a noticeable decline in the probable maximum loss (PML) estimates for major catastrophe events reported by a number of (re)insurers in the second quarter.
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