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  • Bermudian stalwarts John Lummis and Jim Stanard have formed Flex Capital Advisors (FCA), a management company that will underwrite reinsurance on behalf of companies and funds and is set to sponsor Flex Re, a new $500mn start-up on the island.
  • But uncertainty remains on how firm the company’s walk-away option is on remaining asbestos exposures... ACE Ltd has partially lifted the asbestos albatross which haunted the company's reserves ever since it acquired CIGNA Property & Casualty business
  • US Senate approval of the Democrats' sweeping Wall Street regulatory reform bill has all but cemented the creation of an Office of National Insurance (ONI) within the Treasury.
  • Primary US insurers dominate ILS pipeline in 2010...
  • Lloyd's declared pre-tax profits for the market of £1,322mn for the first half of 2009, up 39 percent on the previous year.
  • UK regulator the Financial Services Authority (FSA) has confirmed Hector Sants as its new chief executive in an internal appointment.
  • 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.
  • The spate of recent high profile collapses of UK holiday firms looks set to cause significant insured losses for AmTrust's UK insurance arm, The Insurance Insider can reveal.
  • Another subsidiary of Canadian combine Fairfax Financial Holdings announced last week that it would be delaying the filing of its second quarter results because it needed extra time to adjust accounting errors.
  • American International Group (AIG) has slashed senior executive remuneration as a gesture to its new US political paymasters and in an attempt to speed the group to recovery, with CEO Ed Liddy earning a $1 salary for 2008-2009.