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January 2013/4

  • Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers
  • UK-listed Tawa has announced a boardroom reshuffle, with two directors swapping roles, including the company's internal audit chief.
  • Randall & Quilter (R&Q) confirmed it has reached a final settlement with P&C giant Ace over a coverage dispute dating back to the $1bn Brandywine APH legacy transaction in 2006.
  • Bermudian (re)insurer Argo has written to its capital providers to confirm that it has agreed to cede the 2009 and prior-year reserves of the Heritage Syndicate, which it acquired in 2008.
  • Professionals operating in the run-off acquisition market are less optimistic that Continental Europe will be the promised land of future growth than they were a year ago, according to a new survey by PwC.
  • American International Group (AIG) has taken the unusual step of publishing 172 pages of documentation considered by the board before it decided not to join Hank Greenberg's lawsuit against the US Treasury Department.
  • The number of securities class action lawsuits filed in the US declined "sharply" during 2012, according to a study by Cornerstone Research and Stanford Law School.
  • The National Association of Insurance Commissioners (NAIC)'s newly elected CEO Ben Nelson has called for the preservation of the US state-based regulatory system.
  • Lloyd's chairman John Nelson has thrown his support behind the UK holding a referendum on its membership of the European Union and said the UK should opt to stay in.
  • The Lloyd's (re)insurance market must remain constantly vigilant to avoid repeating past mistakes, said the market's former CEO Nick Prettejohn.
  • The uncertainty in future regulation on both prudential and market conduct is adversely affecting insurers' cost of capital and strategic choices and will impact future ratings, according to Standard & Poor's (S&P).
  • A swathe of European governments have increased insurance premium tax rates in reaction to gaping financial deficits and a bleak economic outlook, according to research from London's International Underwriting Association (IUA).
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