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  • AmWINS has agreed to buy smaller rival Bliss & Glennon from Fortegra Financial Corporation for an undisclosed sum, cementing its position as the biggest wholesale P&C broker in the US.
  • The long-awaited final draft of Solvency II has brought the debate over "equivalency" status and, in particular, the status of US insurance regulation centre stage
  • Run-off acquirer and (re)insurance service provider Tawa is suing US carrier Penn National for fraud over a reinsurance contract that the struggling London-listed firm expects to cost it a net $41mn
  • A Massachusetts court has rejected a complaint brought by two Berkshire Hathaway-owned companies that alleged Trans Re had used unfair and deceptive practices to rid itself of "crippling asbestos liabilities by any means possible".
  • When Lloyd's (re)insurer Beazley buys its reinsurance/retro at 1 April next year it may consider issuing a catastrophe bond for the first time, according to Canaccord Genuity analyst Ben Cohen, citing a recent conversation with Beazley finance chief Martin Bride.
  • The alternative reinsurance market has grown to around $45bn from roughly $33bn in 2012, and now has a circa 17 percent share of US property catastrophe business and 11 percent globally, according to Swiss Re.
  • London-listed (re)insurer Amlin has an option to buy out its joint venture partners in the fast-growing ILS fund manager Leadenhall Capital Partners in 2014
  • American Family Mutual Insurance and service companies PCS and AIR Worldwide are seeking to dismiss a lawsuit over the $100mn Mariah Re tornado bond payout as they maintain that the claim was based on accurate data.
  • Aviation insurance rates have been heading south for years, weighed down by intense competition and a prolonged dearth of major claims, but there is growing anecdotal evidence that the reductions are getting more pronounced.
  • While the casualty reinsurance market has been relatively stable in 2013, with rate increases broadly in the low single-digit range for most classes, several trends have converged to provide a sense of foreboding.