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  • The global insurance industry could undergo consolidation driven by the Asian markets over the next few decades, according to speakers at the Airmic conference held in Birmingham, UK, last week.
  • The Lloyd's Market Association (LMA) wishes to develop more competition in the provision of catastrophe modelling to rationalise some of its members' approximate $100mn annual collective spend with existing vendors.
  • Lloyd's CEO Inga Beale last week pledged to ensure Lloyd's makes headway on modernising market operations and implementing electronic processing.
  • Willis intends to establish its own Lloyd's managing agency on the back of its stake in start-up insurer Acappella, Willis Re CEO John Cavanagh told attendees at the Association of Lloyd's Members' national conference on 19 June.
  • Lloyd's (re)insurer Hiscox plans to keep its Special Purpose Syndicate (SPS) 6104 open in 2015 despite deteriorating underwriting conditions, according to CUO Paul Lawrence.
  • AA IPO; Ergo acquires; Hamilton hires; Allstate cat loss; Quindell overhaul; R&Q update; XL recruits; RSA interest; ING IPO; Peak Re profit; RSG launches; Heritage approved; Hiscox Dublin; DWF election; Argo appoints; White Oak grows; Travelers wants Tria; XL cyber; Aspen expands
  • Lloyd's is planning to employ a dual approach that balances the pursuit of new business opportunities with the preservation of underwriting discipline, the market's CEO Inga Beale told delegates during the Association of Lloyd's Members' national conference last week.
  • UK risk manager trade body Airmic has launched an efficacy guide for risk managers aimed at ensuring buyers have understood and agreed wordings and contractual terms properly before policies come into force.
  • Geoff Bromley, president of Aon Benfield's International business since 2008, passed away last week after a battle with illness.
  • The necessary conditions for industry consolidation are in place but larger reinsurers are unlikely to be among the principal deal-makers, according to Denis Kessler, the CEO of global reinsurer Scor.