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November 2010/3

  • Taiwanese-listed bancassurer Fubon Financial Holdings has emerged as a potential bidder for American International Group (AIG)'s Taiwanese life insurer Nan Shan.
  • In the final Lloyd's capacity auction of the year, Argo dominated proceedings by paying £0.6mn to acquire £5.7mn of additional capacity on its Syndicate 1200 for the 2011 year.
  • CNA Europe appoints two non-executive directors; AM Best affirms Atrium syndicates; AM Best holds on Axis Specialty; ING prepares to spin off insurance units
  • The Camomile Underwriting Agencies Limited (CUAL) solvent schemes were granted recognition last week by a US judge at the Federal Bankruptcy Court in New York.
  • US workers comp insurer PMA Capital was successful in reversing an arbitration award to Platinum Underwriters Bermuda after an earlier decision to dismiss the payment was upheld by the US Court of Appeal last week.
  • Property and casualty (P&C) insurers worldwide have asked the G-20 to distinguish their industry from banks when tackling systemic risk.
  • The Stateside battle against further regulatory encroachment on the (re)insurance industry has drawn some strength from the success of Republicans in the US midterm elections last week.
  • Leading Swiss cat bond investment manager Clariden Leu has re-opened its flagship fund to new investments, following strong insurance-linked securities (ILS) issuance in the second half of the year.
  • Catastrophe bond sponsor USAA is revisiting the capital markets with its second Residential Re offer this year, opening the season for fourth quarter US wind sales.
  • Improved balance sheets and more stable claims conditions for the shipping industry's protection and indemnity (P&I) clubs has ensured that hard-pressed shipowner members face only small general premium increases at the 2011 renewals.
  • A UK High Court has found against Lonmar Global Risks and in favour of rival London market broker Tysers in an acrimonious poaching case.
  • Aon's chief operating officer Andrew Appel - the former management consultant who masterminded the integration of Aon Re and Benfield Group - is leaving at the end of the year, only seven months after starting the new role.