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  • It's the reinsurance CEO's worst nightmare. He is sitting on the terrace of the Hotel Hermitage at lunchtime during the Monte Carlo Rendez-Vous. Sitting opposite him is his longest-standing and most lucrative client, chaperoned by the favoured reinsurance broker who brought the two together decades ago
  • London-listed legacy-to-live insurer Randall & Quilter said its half-year profit fell by a third, weighed down by a weaker investment performance and lower returns from its participation in Lloyd's syndicates.
  • Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers
  • Despite the huge sums the European (re)insurance industry has spent on Solvency II, it looks increasingly unlikely that the regime will ever be fully implemented because there simply isn't the collective will from regulators and policymakers.
  • In a further crackdown on "misleading" add-on insurance products, the UK's Financial Conduct Authority (FCA) has fined 13 UK banks and credit card issuers £1.3bn for directing customers to credit card insurance that was of little benefit to them.
  • A California district court has allowed a bad faith claim against an American International Group (AIG) unit to be reconsidered in a dispute over $69.5mn of damages from an Orange County (OC) blaze.
  • Axa is suing the art storage arm of auction house Christie's for $1.5mn on behalf of the Jacqueline Piatigorsky art trust, accusing it of "wanton neglect" in failing to prevent some of its artwork from being damaged by Superstorm Sandy.
  • Underwriters that provided Royal Bank of Scotland (RBS) with directors' and officers' (D&O) insurance in the run-up to the 2008 financial crisis will be watching the UK Chancery Court closely next month for the latest developments in a lawsuit that could cost them dearly.
  • Meadowbrook Insurance Group has dismissed allegations in the first of a growing number of shareholder lawsuits filed against it and certain of its officers as "baseless and without merit".
  • French reinsurer Scor is looking to raise $125mn of cover against extreme mortality risk in the US by issuing a new cat bond under its Atlas series.