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  • Citizens Property Insurance Corporation's move to return to the private reinsurance market after a two-year hiatus and purchase up to $500mn of cover has raised hopes that Florida's state-backed insurer will become a consistent buyer of the product.
  • Willis Group president Grahame Millwater has added his candidature to the increasingly competitive Lloyd's 2012 Council elections, which take place next month
  • Lloyd’s insurer Novae issued an upbeat trading statement with improvements to its syndicate forecasts, a decrease in run-off expenditure and a better-than-expected assessment of the rating environment.
  • Following a mandated 12 September deadline to provide loss estimates, Lloyd's vehicles have continued paint a picture of the scale of the claims they are facing. Meanwhile other (re)insurers, led by those based in Bermuda, have begun to release...
  • Arthur J Gallagher International confirmed last week that it had acquired Woodbrook Underwriting Agencies, after The Insurance Insider revealed that the deal was poised to go through.
  • Bird flies from Groupama; Everest Re plots Canada expansion; Russell launches ALPS Aerospace; GCube appoints John McLane as president; Jubilee hires new life underwriter; Argo International strengthens casualty team; Whittington appoints new director; Piracy claims outpacing premiums; Ace appoints Chessman as claims exec
  • Bermudian Everest Re faces the prospect of a ratings downgrade in the first quarter of 2009 after Standard & Poor's (S&P) moved on Friday (19 December) to place the reinsurer's counterparty credit and financial strength ratings on CreditWatch with negativ
  • The regulatory regime in the US is likely to be deemed equivalent to the Solvency II requirements by the EU because of its long-standing use of risk-based capital requirements, according to Fitch.
  • The management of Equity Syndicate Management Ltd (ESML) Syndicate 218 received a hostile reception from Names and other capital providers at its London AGM today (20 June).Investors queried spectacular losses and the controversial failure to extend a Berkshire Hathaway adverse loss development cover (ADC).The dedicated Lloyd's motor insurer - which is owned by the Australian insurer IAG - had a tumultuous 2010 with £499mn of losses caused by fierce competition,
  • Longevity swap volumes have reached £4.3bn this year, after Goldman Sachs subsidiary Rothesay Life signed up to insure £1.3bn of pension liabilities for a British Airways (BA) defined benefit scheme.