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  • Forty-seven new insurers registered in Bermuda during the first seven months of 2013, an 81 percent increase compared with the same period last year, consolidating the island's position as one of the world's premier insurance hubs.
  • Meadowbrook Insurance Group has dismissed allegations in a class action lawsuit filed against it and certain of its officers last week as "baseless and without merit".
  • Live-to-legacy business White Mountains has given IDB Development Corporation until 5:00pm Israeli time on 25 August to accept its $308mn bid for the 55 percent share of Clal Insurance owned by the conglomerate
  • A strong underwriting performance from global non-life reinsurers in the first half of 2013, helped by moderate catastrophe claims, was offset by higher unrealised investment losses, holding back growth in shareholders' equity, according to the Fitch credit rating agency.
  • 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
  • A group of 13 UK banks and credit card firms have agreed to pay up to £1.3bn in compensation to consumers who were mis-sold insurance against identity theft and the loss of credit cards, the UK financial regulator said today (22 August).
  • UK insurance workers take more pride in their profession than employees in any other industry, according to a survey published today (22 August) by recruiter Randstad Financial & Professional.
  • BP Marsh, the financial services-focused venture capital firm, has banked £29.2mn from the sale of most of its stake in UK insurance broker Hyperion, it said today (22 August).
  • Insurance Australia Group (IAG) today (22 August) said its full-year profit more than trebled, helped by strong growth in premiums and lower-than-expected claims from natural disasters.
  • White Mountains has put in a bid of 1.1bn shekels ($308mn) to buy out Israeli investment and insurance firm IDB Development Corp's 55 percent stake in Clal Insurance Enterprises Holdings.