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  • Broker Aon has called for P&I (protection and indemnity) clubs to remove war risks exclusions to allow shipowners greater certainty over coverage should they be subjected to piracy attacks.
  • In our regular monthly London News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • European insurance companies ignore the planned Solvency II regulations at their peril, according to a report by rating agency Standard & Poor's (S&P).
  • UK executives have been warned about the impact US plea bargains could have on indemnity and directors’ and officers’ (D&O) insurance.
  • Sciemus Ltd is set for a 1 March underwriting start in the power market, after securing capital for the venture, The Insurance Insider can reveal.
  • French reinsurer Scor's financial strength has not been affected by the current economic turmoil, said ratings agency Fitch, as it maintained financial strength and debt ratings at A.
  • Dutch insurance giant AEGON has closed a £250mn value in-force (VIF) life insurance securitisation with Barclays Capital that unlocks cash tied up in its primary UK subsidiary, Scottish Equitable.
  • A US Senate oversight committee has criticised rating agencies Moody's and Standard & Poor's (S&P), alleging that they sold AAA ratings to investment banks for portfolios of assets that they knew to be a considerable default risk.
  • Shares in Aon Corporation were up last week amid rumours the broking giant may be the target for a leveraged buyout as private equity interest in the sector continues to grow.
  • Specialist Lloyd’s insurer Hardy Underwriting has announced its syndicate results for 2003 and forecasts for the coming year.