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  • Utica National Insurance Group has signed a reinsurance deal to transfer the bulk of its asbestos liabilities to Berkshire Hathaway's National Indemnity Company.
  • Ace American has been threatened with possible sanctions if it fails to provide emails and other evidence necessary for a suit over alleged poaching and theft of trade secrets.
  • The US Financial Stability Oversight Council (FSOC) has reached the final stage of choosing which non-bank entities will be branded potentially risky to the financial system.
  • A New York court has issued a preliminary injunction against former Aon executive Peter Arkley, after he jumped ship with 60 other staff members to California-based rival Alliant last year.
  • Ace American received a major setback last week in a $200mn subrogation suit against the contractors of the Kleen Energy gas and oil-fired plant that exploded in 2010.
  • A steering committee of six top EU and US insurance regulators has issued a draft report as part of a project to build EU and US regulatory dialogue and will hold two meetings in Brussels and Washington in mid-October.
  • Lloyd's finance director Luke Savage has indicated that the Lloyd's market is nearing final preparation for Solvency II and said that on average the market is around 95 to 98 percent of the way to full compliance.
  • A UK government minister has been told that the attitude of the country's financial regulator is the greatest roadblock to attracting more overseas (re)insurance companies and business into the London market.
  • Key shifts in the longevity market have set the scene for more deals in the capital markets, according to panellists at an insurance-linked securities (ILS) conference held by Standard & Poor's (S&P) in London last week.
  • RenaissanceRe's Top Layer Re took total claims of $412.5mn from the New Zealand and Japanese earthquakes in 2011, confirming the permanent sidecar's participation at the top of the 935bn yen ($12.01bn) Zenkyoren stack.