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  • Most Lloyd's insurers are over halfway towards completing the internal modelling process that will be used to calculate their capital burden under Solvency II, with two years to go before the new European capital regime comes into force, consulting firm LCP found in a survey.
  • Shares in leading UK motor insurers rose strongly in early trading this morning (17 January) after a closely watched survey suggested that a recent downturn in car insurance prices is slowing, analysts said.
  • Lloyd's insurers Cathedral and Talbot have reached a settlement with Michael Jackson's estate over the $17.5mn non-appearance policy they wrote ahead of the singer's death in 2009, just as he was preparing for a series comeback concerts, according to reports.
  • The possibility of a cyber attack has re-emerged as one of the top-five threats likely to cause severe harm to the world's economy over the next decade, the World Economic Forum (WEF) said in its annual Global Risks report, released ahead of a conference in Davos later this month.
  • Specialty underwriting agency GB Underwriting has teamed up with WR Berkley Europe to offer a new range of products tailored to the construction industry, it said yesterday (16 January).
  • Allied World Assurance Company has appointed Lou Iglesias as president of its North American insurance platform.
  • State Farm has agreed a deal to sell its Canadian P&C and life insurance business as well as its mutual fund, loan and living benefits companies to Desjardins Group.
  • Global broker Willis has announced that it is to combine its global specialty insurance business with its Willis UK retail business
  • US wholesale broking group CRC Crump grew its quarterly profits by 11 percent in Q4 2013, helped by rising commercial insurance prices in the US, its parent company said today (16 January).
  • Xaver, the winter storm that swept through north-western Europe on 5 and 6 December, looks set to cost (re)insurers some EUR680mn ($930mn), according to an initial estimate published today (16 January) by loss compilation agency Perils.