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  • Brit Insurance announced strong results last week - including a 93 percent combined ratio and a five-fold lift in profits - but CEO Mark Cloutier was quick to dampen any suggestion that the firm's private equity owners might be tempted to seek an earlier exit than initially planned.
  • The Bank of England, which is soon to take responsibility for insurance regulation, should appoint a new deputy governor to oversee non-banking financial services companies including insurers, Hiscox CEO Bronek Masojada has said.
  • After posting 7 percent organic growth for the second quarter of 2012, Aon CEO Greg Case has said that he expects Aon Benfield to continue growing at 4-5 percent on an underlying basis in coming quarters.
  • Novae Group is expected to tell shareholders later this week that it is exiting engineering and materially reducing its motor excess of loss (XoL) reinsurance book after defections at its Zurich subsidiary.
  • The troubled Italian medical malpractice market has lost another capacity provider after its national regulator ruled that Romanian firm City Insurance had contravened the rules on passporting, The Insurance Insider understands.
  • Middleweight (re)insurance broker JLT will not follow larger rivals in charging for its improving data capabilities and will instead use the extra insight it gains to serve clients better, the firm's management has said.
  • Brokers have expressed "concern" about being marginalised from a potentially major project to restructure the London market back office and the management of central services shared by companies doing business in the city.
  • Lloyd's affirmed in A team; Fund managers mull Libor suits; August closure for Canopius Omega deal; Montpelier Re in property cat expansion; Ince & Co expands in China; Arch reshuffle; PwC on global regulation convergence; Shortcomings in insurer bankruptcy rules; Lancashire in school holiday charity push
  • Argo is seeking to transfer some of its prior years' reserve risk to a legacy buyer so that capital is freed up to support current underwriting, according to well-placed sources.
  • In the same week that two authoritative reports from Aon Benfield and Willis forecast continued capital markets expansion into reinsurance, there were predictions that property cat rates would fall 5-10 percent in 2013 because.... you may have guessed it... of the increasing competition from hedge funds, cat bonds and other alternative investment vehicles.