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  • Standard & Poor's (S&P) has cut its outlook on QBE to negative due to concerns the Australian insurer might be forced to absorb further writedowns at its troubled US unit
  • The 2013 US hurricane season was the quietest in over 20 years with less than a third of the normal number of storms, reinsurance broker Willis Re said today (12 December).
  • The burgeoning insurance-linked securities (ILS) market needs to be kept under close regulatory scrutiny to ensure it does not threaten the (re)insurance sector's financial stability, the European Insurance and Occupational Pensions Authority (Eiopa) said today (12 December)
  • AM Best will not conclude its review of SAC Re A- financial strength and ‘a-' issuer credit ratings until Brian Duperreault's Hamilton Insurance Group has closed its deal to buy the Bermudian.
  • Willis has lured Simon Ashby from Bowring Marsh Bermuda to head up its Global Solutions International (GSI) unit.
  • Specialist UK property, motorsport and educational services underwriter Millburn Insurance has been placed into administration by the High Court, it emerged today (11 December)
  • Hyperion's expansive international intermediary Howden Broking Group has agreed to purchase Colemont Finland from major US wholesale broker AmWINS for an undisclosed sum.
  • Moody's and Fitch have cut their assessment of QBE Insurance Group's creditworthiness, saying the Australian carrier has been financially weakened by hefty reserving charges and goodwill writedowns at its troubled North American unit.
  • Cheaper property cat reinsurance will allow Allstate to become more competitive in homeowners business and grow its book at a faster rate, according to the US insurance giant's chairman and CEO Tom Wilson.
  • BP Marsh-backed US Risk (UK) has launched a new MGA, Lime Underwriting, which will be headed up by Jonathan Morgan and Lindsay Noble.