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  • The UK Financial Services Authority (FSA) has proposed a ban on "conditional" risk transfer between insurers and intermediaries in order to prevent policies not being honoured if a broker fails.
  • Hannover Re's groundbreaking Fac Pool Re securitisation is facing the prospect of major losses as a legal dispute begins over some of the business ceded into the pool.
  • Insurance-linked securities (ILS) investors kept a close watch on the Pelican Re cat bond as Hurricane Isaac hit Louisiana, while parts of the state continue to struggle with flooding a week after the storm.
  • Despite reviving bleak memories for the residents of New Orleans, Hurricane Isaac ultimately appears to have turned into a damp squib for (re)insurers, at least according to the cat modelling agencies.
  • In addition to the $8.43 a share offer to Flagstone Re investors, the Validus proposal includes $135.2mn of balance sheet adjustments to the Swiss-based reinsurer.
  • A successful combination between Validus and its smaller rival Flagstone Re would create Bermuda's largest property catastrophe reinsurance writer, edging out short-tail specialist RenaissanceRe.
  • The niche residual value insurance (RVI) market could form part of the EC3 landscape once again, with Korean underwriter Samsung Fire & Marine Insurance Company of Europe (SFME) considering writing the product.
  • Kidnap and ransom (K&R) and contingency could soon be written by Ace Global Markets (AGM), the London market arm of Ace European Group (AEG), reports sister title Inside FAC.
  • American Financial Group (AFG) has consolidated its ownership of Lloyd's insurer Marketform five years after acquiring a majority stake in the business.
  • Market veteran Michael Pritchard, the active underwriter for Beaufort-managed and Munich Re-owned Lloyd's Syndicate 318, is to step down from the role with effect from 30 June 2013.