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October 2011/4

  • Aon withstood the impact of another quarter of negative organic growth from its reinsurance arm, to record a 3 percent overall increase in organic broking revenues.
  • Swiss Re has regained a prized double-A level rating from Standard & Poor's (S&P) after rebuilding itself from the knock it took during the recession.
  • Ambitious UK-based insurance service provider Pro Insurance Solutions has received approval from the Financial Services Authority to operate as a broker and managing general agency (MGA) in the live market.
  • The increasing number of large motor claims and trend for periodic payment orders (PPO) poses a challenge to reinsurers of the UK personal lines market, according to industry body The Actuarial Profession.
  • Eamon Brown, director of underwriting at Mitsui Sumitomo Insurance Underwriting at Lloyd's (MSIUL), is set to leave the company after less than two years in the role, The Insurance Insider can reveal.
  • Oxygen Insurance Brokers is close to selling its entertainment broker Robertson Taylor,The Insurance Insider can reveal.
  • The growth in the collateralised reinsurance market is a trend that is here to stay, according to industry experts.
  • The long awaited revised Japanese quake loss number for agricultural mutual giant Zenkyoren is expected this week, as the global reinsurance industry divides for two of its largest gatherings of the year.
  • Insurance service provider and run-off acquirer Compre has appointed George Boden as its new chairman.
  • Insurance service provider and run-off acquirer Tawa has completed its purchase of a majority stake in Pennsylvania insurer Lincoln General, helping to end a bitter stand-off between the US-based insurer's former owners the Kingsway Group and the Pennsylvania Department of Insurance (PDI).
  • London-headquartered service provider and run-off acquirer Randall & Quilter (R&Q) has agreed to buy Principle Insurance Company Ltd for £4.275mn, as it starts to draw down on the hedge fund facility it negotiated earlier this year.
  • Enforcement actions by the Securities and Exchange Commission (SEC) for offences stemming from the financial crisis have brought in almost $2bn so far.