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July 2012/3

  • There are fears that the EU may have to push back the January 2014 launch of its Solvency II capital regime after talks on a final draft of the new framework failed ahead of the impending EU parliamentary summer break.
  • Weekly share price movements on The Insurance Insider's universe of global P&C (re)insurers and brokers
  • The Lloyd's Market Association (LMA) is rationalising the market's model binding authority agreements.
  • A US congressman last week accused the US National Association of Insurance Commissioners (NAIC) of acting beyond its powers, and urged the newly created Federal Insurance Office (FIO) to review its role.
  • The financial interest coverage (FinC) created to circumvent restrictions on Islamic insurance in global programmes will probably be spurred by international insurers with takaful capabilities such as Munich Re, Swiss Re and Hannover Re, according to a report.
  • EU insurers will no longer have to quantify overall solvency needs for each separate year of the Own Risk and Solvency Assessment (Orsa) projection period, according to the Orsa draft guidelines released by the European Insurance and Occupation Pensions Authority (Eiopa).
  • The European Insurance and Occupation Pensions Authority (Eiopa) has raised the threshold for (re)insurers reporting under its financial stability mandate to include firms with EUR12bn of assets on their Solvency II balance sheet.
  • The big three brokers' dominance of the Lloyd's market increased in 2011 as their market share across all lines grew from 48 percent to 52.9 percent, according to Lloyd's figures obtained by The Insurance Insider.
  • Citizens' success in dramatically increasing its reinsurance protection as it entered the 2012 North Atlantic hurricane season was largely down to the very different dynamics in the property cat reinsurance market this summer.
  • Drought conditions affecting large areas of the US are not yet a cause for concern for crop insurers and their reinsurers, according to analysis from Stifel Nicolaus.
  • Total remuneration of chief financial officers across a sample of Bermudian (re)insurers and global brokers fell slightly in 2011, analysis by The Insurance Insider shows.
  • Far from being a major concern for US and Bermudian (re)insurers, the Eurozone crisis could be a source of opportunity for carriers.
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