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March 2012/1

  • Despite the magnitude of 2011 catastrophe losses, US and Bermudian (re)insurers tracked by The Insurance Insider returned almost $9bn of capital to investors through share repurchases last year...
  • The retrial of former General Re CEO Ronald Ferguson, three of his ex-colleagues and former American International Group (AIG) executive Christian Milton has been set for 22 January 2013.
  • The US government has requested the dismissal of a $25bn lawsuit by Starr International, which claims that the state rescue of American International Group (AIG) in 2008 was unconstitutional.
  • Giant Japanese mutual Zenkyoren has placed firm order terms in the market where it would pay around 65 percent more for its upper layers and circa 40 percent more for its combined quake and wind stretch
  • A New York court has reversed an order for Travelers to pay over $500mn in claims from a complex asbestos case that dates back decades.
  • Florida's Senate Budget Committee passes draft legislation to cut the state's Hurricane Catastrophe Fund from $17bn to $15bn
  • European policymakers are still haggling over elements of the Solvency II legislation with just weeks left before crucial votes are required in the European parliament
  • Thailand's insurance regulator is set to increase the limit on foreign shareholding in local insurers from 25 to 49 percent, once the government-backed $1.6bn cat bond is up and running.
  • Brandywine and QXRe bite as Randall & Quilter and Tawa hit by write-downs of assets held on their balance sheets...
  • Charles Taylor Consulting (CTC) is to pull back from the P&C legacy market to focus on its professional services business, The Insurance Insider revealed last month.
  • A dispute over an annual aggregate deductible is the latest manifestation of the tensions simmering in the marine market since the Costa Concordia loss in January, The Insurance Insider can reveal...
  • The 1 April renewals are a key battleground. Pro rata and XoL treaties are up heavily