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  • Lloyd's run-off vehicle Equitas is suing the US government for $97mn after it prevented insurers from pursuing the Libyan government for its involvement in terrorism attacks, including the Lockerbie bombing.
  • A number of Tower Group's shareholders have settled with the fallen US insurer after filing a suit that accused its former CEO Michael Lee of telling a "bald-faced lie" and undervaluing the carrier when it was sold to ACP Re.
  • Ten Lloyd's insurers are being sued in the UK Commercial Court after a controversial $77mn shipping claim that may also involve the suspected murder of a British loss adjuster in Yemen.
  • Reinsurance stocks came under renewed selling pressure last week as a series of attritional losses held back earnings despite the quarter being considered below-average for cat events.
  • Bermudian carriers profited from another benign catastrophe environment in the second quarter, as a lighter claims experience and continued reserve releases pulled the peer group to a sub-90 percent combined ratio.
  • Yet more evidence of growing price pressure in the world's largest insurance market...
  • Publicly quoted standalone Florida insurers broadly reported strong top line growth in the second quarter as relatively recent start-ups and established carriers took advantage of improving market conditions and the depopulation of Citizens to write more business.
  • While much of the focus during the P&C sector's second quarter reporting season has been on the pressures facing (re)insurers in the current-year underwriting environment, the issue of prior-year reserves was also prominent for several carriers.
  • Following the recent increase in the Costa Concordia loss notification, some of the biggest (re)insurers have revealed the impact in their Q2 results
  • Zacks has downgraded its rating on property catastrophe reinsurer Blue Capital Re from outperform to underperform following the release of the firm's second quarter results.