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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.
  • 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.
  • 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.
  • The UK Financial Services Authority (FSA) has shed light on its "more intrusive" regulatory regime for approving and supervising "persons performing significant influence functions" (SIFs).
  • Barlow Lyde & Gilbert hires Part VII transfer specialist; DUAL Ireland opens doors with AIG hire; Gregory joins Axis as international specialty CEO; Taylor to serve as non-executive chairman of Montpelier Re...
  • AJ Gallagher's London operation confirmed it has hired the trade credit team that defected from former HCC-owned broker Rattner Mackenzie before the entity was sold to Guy Carpenter.
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