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October 2009/2

  • The trend of London market insurers fundraising through equity issuance looks set to continue, with the equity markets persisting as the "predominant source of new capital", according to the latest forecast from banking group Lloyds TSB.
  • The benign winds that characterised this year’s North Atlantic hurricane season could prove a double-edged sword.
  • A US district judge has ruled that Allen Stanford and other executives at the centre of charges relating to an alleged $7bn fraud may seek to tap into defence costs through a directors' and officers' (D&O) policy at Lloyd's.
  • The Financial Services Authority (FSA) is yet to break the silence over its assessment of Russian-backed private equity firm Pamplona Capital Management’s plans to build an influential 29.9 percent stake in Lloyd's insurer Chaucer.
  • At a lunch in the City last week, members of The Insurance Insider London One Hundred were treated to a devastating critique by a top UK financier of the parlous state of the UK government's finances.
  • Estimated insured losses from Typhoon Melor for onshore properties in Japan range from $850mn to $1.5bn, according to risk modelling firm AIR Worldwide.
  • Mutual insurers are increasing global market share, as the financial crisis and global recession has increased their attractiveness to customers compared to public company peers, according to a study by ratings agency AM Best.
  • Efforts to sell the non-life reinsurance portfolio of Berlin-based run-off group BF Rückversicherung have been revitalised.
  • Ahead of another key renewal date for the airline sector comes a further report that airline reinsurance prices are "generally rising" as underwriters digest a heavy loss year which is already fuelling significant primary rate increases.
  • French reinsurer Scor has built out its presence in the Dutch life reinsurance market with the establishment of an office in the Netherlands through its subsidiary, Scor Global Life.
  • The US run-off industry once again prepares for its annual migration to New Jersey as the fifth Association of Insurance and Reinsurance Run-Off Companies (AIRROC) event begins on the 19 October.
  • American International Group (AIG) is close to announcing the sale of its Taiwanese life assurance unit, according to reports, in what would be the largest deal to date in its asset shedding exercise to repay the US taxpayer.
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