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July 2010/4

  • 2010 may be the year that the airline insurance market returns to profit - but dents were made in the sector's loss ratio with two crashes in July.
  • Brit Insurance's share price has leapt by 11 percent this morning after the UK insurer conceded to an increased 1,075p per share indicative offer from Apollo Management and allowed the New York buy-out firm in for formal due diligence.
  • The European Commission (EC) and European insurance and reinsurance federation, the CEA, have put their weight behind the alliance of opposition to tax measures proposed by the controversial Neal Bill.
  • The soft market conditions for US commercial insurance show no sign of abating as excess capacity continued to push down rates in Q2, according to a raft of research and comment last week.
  • The UK coalition government has published its promised consultation paper on the overhaul of the tripartite regulation system that it blames in part for the crisis that brought the banking system to its knees.
  • Marsh's reinsurance broking arm, Guy Carpenter, has filed a lawsuit against rival Lockton Re after a lucrative account moved across following the defection of a senior Guy Carpenter broker.
  • Argo boosts new D&O team; Goldie promoted at PartnerRe...
  • New risk models launched...
  • Regulators from around the world are trying to find ways of opening the door to microinsurance products, with opinions diverging on whether the slow pace of change benefits or hinders the nascent market.
  • As the controversial Neal Bill continues to stall on Capitol Hill, the German government has expressed strong opposition to the proposed legislation.
  • A bill under consideration by the US House of Representatives would extend the National Flood Insurance Program (NFIP) to include windstorm cover.
  • The far-reaching US Wall Street Reform and Consumer Protection Act signed into law by President Obama last week will "rewrite the landscape of the financial markets", according to the Property Casualty Insurers Association of America (PCI).
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