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  • Ogden rate uncertainty is giving reinsurers ammunition on motor excess of loss (XoL) renewals after intervention from a committee of lawmakers threatened to delay promised reforms.
  • UK insurers looking to establish infrastructure-light entities in the EU because of Brexit while servicing them from Britain could face hefty VAT bills, tax experts have warned.
  • The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have offered leeway on the incoming Senior Managers and Certification Regime (SM&CR) with the promise of an implementation period and relief for some companies from certain requirements.
  • At least $3.8bn of new capital has been raised in the space following significant losses from hurricanes Harvey, Irma and Maria (HIM), according to Trading Risk data.
  • Covea Group's first cat bond has settled below the lower end of initial price targets, according to Trading Risk sources.
  • United Insurance Holdings (UPC Insurance) has raised $150mn through a public debt offering, which the Floridian carrier has said will enable it to participate in future opportunities.
  • The International Group (IG) of protection and indemnity (P&I) clubs has set back hopes of broad-based rate rises in the marine market after achieving a rate reduction of around 1 to 2 percent on renewal of its excess-of-loss (XoL) reinsurance treaty.
  • The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have offered leeway on the incoming Senior Managers and Certification Regime (SM&CR) with the promise of an implementation period and relief for some companies from certain requirements.
  • Workers' compensation insurers accounted for about a quarter of the 354 US P&C carrier impairments recorded over the past 17 years, according to AM Best data.
  • Lloyd's has issued a new round of guidelines for syndicates writing accident and health and life insurance for international and/or government organisations after identifying a number of common misconceptions.