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  • Standard & Poor's (S&P) has improved the outlook on Montpelier Re Holdings Ltd (MRH) and its core operating subsidiary Montpelier Reinsurance Ltd (MRE) from negative to stable citing "meaningful" improvements in enterprise risk management (ERM).
  • The UK insurance industry will closely monitor tomorrow's emergency budget amid growing expectation that Chancellor of the Exchequer George Osborne will boost government coffers by hiking the rate of insurance premium tax.
  • Willis Group achieved 4 percent organic growth in the third quarter as increases in new business and client retention countered adverse soft market conditions.
  • Swiss Re shares fell more than 5 percent this morning after the reinsurance giant continued to disappoint analysts with further structured credit losses that halved Q1 profits.
  • Shares in American International Group (AIG) slid by more than 7 percent in early trading after the insurer announced the biggest quarterly loss in its history driven by a $11.12bn pre-tax writedown in its financial products division, AIGFP.
  • Names with exposure to dedicated Lloyd's motor underwriter Equity Syndicate 218 have begun voicing concerns as the syndicate revealed a £499mn loss for 2010 on an annual accounting basis.
  • User-pays was heavily criticised. Lloyd’s insists that the process has been reformed but Laptop argues there is still much to be done In December 1997 Lloyd's announced the introduction of “User Pays”. One of the aims was to remove “the subsidisation
  • Jardine Lloyd Thompson Group plc (JLT) has become the latest broker to launch an underwriting operation as it looks to develop its revenue streams.
  • MMC, the holding company for the resurgent Marsh and Guy Carpenter global (re)insurance broking operations, has reported Q3 consolidated revenue of $2.5bn – down 11 percent from the third quarter of 2008.
  • Run-off acquisition firm and service provider Tawa has bought Island Capital, the run-off Bermudian trade credit and political risk insurer, for up to $15mn.