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March 2010/3
  • FSA warns lagging UK insurers over Solvency II
    The Financial Services Authority (FSA) has fired a shot across the bows of UK-regulated insurance companies, warning that if they do not accelerate preparations for Solvency II they will not be ready by the current 2012 go-live date.
    16 March 2010
  • Rating agencies hit with fresh Blumenthal complaint
    The flurry of litigation against the rating agencies following the sub-prime meltdown continues unabated.
    16 March 2010
  • Buffett rejected Lehman cash pleas in 2008
    Warren Buffett declined requests from Lehman Brothers' management for support both shortly after Bear Stearns collapsed in March 2008 and then again in the run-up to the investment bank's fall in September of that year.
    16 March 2010
  • Minster hearing to give new litmus test for UK schemes
    Minster Insurance, the Audley Gilroy-owned firm's proposed solvent scheme of arrangement, tomorrow (16 March) will find out finally if it has the go-ahead in the UK High Court.
    16 March 2010
  • Scottish Lion expenses dispute flares up
    The controversial Scottish Lion solvent scheme of arrangement faces another hurdle before a date is fixed for its go-ahead hearing, following a dispute over the allocation of legal costs.
    16 March 2010
  • GCFac loses Barnett to Aon Benfield
    GCFac is understood to be losing the head of its London-based retro facultative operations, Gary Barnett, to rival Aon Benfield Fac, sister publication Inside FAC has revealed.
    16 March 2010
  • London urged to focus on data protection regime
    Firms cannot afford to be ignorant of data protection rules and information security issues given the harder line taken by UK and European Union regulators, lawyers have warned.
    16 March 2010
  • MarketScout to launch wholesale broker; hires former Crump CEO
    MarketScout is to set up a wholesale brokerage and managing general agent after securing the services of former Crump CEO Glenn Hargrove.
    16 March 2010
  • (Re)insurers attack US federal cat bill
    Lobby group the Association of Bermudian Insurers and Reinsurers (ABIR) has told the US House of Representatives that proposed subsidised federal reinsurance legislation is "not sound public policy".
    16 March 2010
  • ‘Extreme’ 2010 hurricane season forecast for US
    The US may suffer an "extreme" hurricane season in 2010 after an exceptionally benign 2009, according to AccuWeather.com.
    16 March 2010
  • Bermuda primes 20% tax bombshell
    The Bermudian government is preparing to hike payroll tax receipts by more than 20 percent as it looks to close a budget deficit opened up by the recession.
    16 March 2010
  • Ariel founder Kramer takes back seat
    Ariel Holdings Ltd founder Don Kramer is standing down as CEO of the Bermudian (re)insurer in favour of long-time number two George Rivaz.
    16 March 2010
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