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January 2011/4

  • London-listed (re)insurer Amlin has acquired UK household and commercial insurer JR Clare Underwriting Agencies (JCUA) for an undisclosed sum.
  • Lloyd's chairman Lord Levene has said that managing agents look set to spend some £300mn on Solvency II implementation, trumping the £250mn figure floated by his finance director Luke Savage earlier in the month.  
  • UK offshore domicile Guernsey has said that it currently has no intention of seeking Solvency II equivalence.  
  • Suncorp has notified reinsurers that it expects to receive gross claims of A$650mn (US$650mn) from the devastating flooding in Toowoomba and Brisbane earlier this month, based on an industry insured loss of A$2bn, The Insurance Insider has learned.
  • Bermuda-headquartered Lloyd's (re)insurer Hiscox has broken its silence on September's New Zealand earthquake by telling the market that it expects to incur claims of approximately £37mn ($58mn).
  • Willis Re A&H chief leaves for Axis; Lloyd's enters iPad age; Gallic giant PAI to offload broker CEP; AIG continues to redeem bailout; Cologne calling; Flagstone bags Housley; Willis appoints new Middle East head; JLT opens South African office; FSA freezes staff pay
  • Former American International Group (AIG) chief Hank Greenberg is set to go on trial on 2 May in a New York state lawsuit alleging he used bogus transactions to disguise the insurer's financial state.
  • A New York state appeals court has reinstated an antitrust lawsuit brought by Global Reinsurance Corp against Equitas.
  • Lloyd's general counsel Sean McGovern has praised the success of the Society's Solvency II lobbying efforts so far but warned that much work was still required.
  • The public authority that runs the Washington DC metro has sued Aon for negligence following a dispute following a train crash in June 2009 that killed nine people and seriously injured a number of others.
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  • Ryan Specialty Group has continued to build out its operations with the launch of a managing general underwriter for complex construction and property risks, Technical Risk Underwriters (TRU).
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