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  • Independent broker BMS is looking to expand into the insurance-linked securities (ILS) market by broking catastrophe bonds and other capital market products.
  • Top-line expansion in the insurance markets of the Gulf Cooperation Council (GCC) will continue at a reduced rate as the region is impacted by depressed world financial markets that have dampened its economic growth.
  • P&C reinsurers are being both "defensive and offensive" as they scramble to build a track record in third-party management in response to the wave of capital markets capacity entering the sector, according to AM Best.
  • Misfiring overseas and non-insurance subsidiaries took the shine off a robust performance from the core domestic underwriting arms of Australia's top three P&C insurers, the companies' earnings statements revealed last week.
  • Arch Capital, Lloyd's and Tokio Marine were notable movers up the ranks of AM Best's top 50 reinsurer league table as measured by premium volume.
  • Despite concerns over pricing pressures and the dwindling pot of redundant reserves available for release, the rating outlook on the global reinsurance segment remains stable, according to AM Best.
  • Beleaguered US insurer Meadowbrook has been given a temporary reprieve by lenders to its bank credit facility after defaulting on its debt covenants.
  • Argo's former excess and surplus lines (E&S) president Lou Levinson is set to re-emerge in the market at International Financial Group (IFG) as president of its wholesale insurance business.
  • Shareholders of American Safety Insurance (ASI) have approved the sale of the Bermuda-based company to the recommended bidder Fairfax Financial Holdings, ending a protracted and at times bitter takeover battle.
  • Pioneer Underwriting, the managing general agent (MGA) owned by London-headquartered independent broker BMS, has appointed former Lloyd's chair Max Taylor as chairman of its board.