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July 2009/2

  • Russian-backed private equity firm Pamplona Capital Management is still awaiting approval from UK regulator the Financial Services Authority (FSA), after conditionally building a 16.27 percent stake in Lloyd's insurer Chaucer last month.
  • According to the latest syndicate forecasts, all-time record profits from the recently closed 2006 year of account at Lloyd's are set to be followed by solid profits for the 2007 account.
  • Lloyd's looks on course for record 2010 capacity, as a flurry of the market's (re)insurers submit plans to increase their underwriting base.
  • Veteran personal accident (PA) underwriter Colin Owen is set to return to the London market.
  • Insider Vital Insurance Statistics (IVIS) is our new regular monthly feature tracking the trends impacting the quoted (re)insurance sector. This month: Bermudians and Europeans fight back in strong Q2; (re)insurer valuations stay low...
  • Risk and Insurance Services global headcount set to fall below 25,000 amid tough US conditions; specialist units to be scaled back.
  • The proposed sale of Swiss Re run-off unit Pro Insurance Solutions (Pro) to UK listed run-off acquisitions group Randall & Quilter (R&Q) is off after the parties failed to agree terms, The Insurance Insider understands.
  • Changes in the accounting treatment of insurance-linked securities (ILS) and derivatives are set to boost the convergence sector...
  • North Carolina's state-backed catastrophe insurance plans have securitised $125mn of catastrophe risk using Swiss Re America as a conduit to the capital markets.
  • The contested Scottish Lion scheme of arrangement returned to court on 7 July, in a hearing that will determine what impact a dissenting minority of policyholders may have on the initiative.
  • The Insurance Insider’s Cavell Norwich Rendez-Vous roundtable spurred a lively discussion over opportunities in Continental Europe and the potential for them to find their way to the London market.
  • AIG resumes talks to shed ALICO; Chubb reserves 'short of potential $2bn D&O loss'; US P&C insurance rates see moderate decline…; …But surplus slides again in Q1; Bryce retires...; ...as does Zeller; Ironshore in $300mn PE raise; Reinsurers rise to 1.7...