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  • Beleaguered US insurance giant Hartford Financial Services Group may be broken up, after reports emerged that it is seeking bids for its core property and casualty (P&C) insurance business.
  • BP's purchase of at least $400mn and possibly as much as $500mn in Side A D&O cover in the commercial market is a stark reminder of how insurance exposures can arise from the most unlikely sources
  • Outspoken former American International Group (AIG) CEO Maurice "Hank" Greenberg has condemned the US government for effectively nationalising the insurance group, and also claimed that the equity for loan deal substantially undervalued the company.
  • Bermudian headquartered Quanta Capital Holdings has parted company with its founding chief executive Tobey Russ.
  • Solvency II compromise could fuel branch growth; EC antitrust stance leaves scope for further lobbying; US capital relief requests; Federal regulation edges closer
  • Six cat bonds valued at more than $1.5bn were released in a late May rush of insurance-linked securities (ILS) issuance, taking total capacity available to (re)insurers at the start of the US hurricane season to $2.4bn.
  • The number of "open years" at Lloyd's has fallen by over 90 percent in the last six years, figures presented by the Society show, with all non-life syndicates prior to 2006 now closed.
  • Japanese carrier Zenkyoren is likely to receive the full $300mn coverage from its Muteki catastrophe bond for losses suffered in the Tohoku earthquake, according to Moody's.
  • A strong underwriting performance propelled "Class of 2005" Bermudian reinsurer Flagstone Reinsurance Holdings Limited to net income of $74.8mn for the first half of the year.
  • Ironshore and QBE have shot up the rankings of excess and surplus lines (E&S) carriers in the US, with Berkshire Hathaway and Allianz falling sharply as they curb premium.