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  • Lord Levene, the Lloyd's chairman who only stepped down after nine years heading the market, has given up on his aspirations of creating a new UK retail bank
  • Future sidecars will still be able to leverage their underwriting power with debt from specialist credit funds despite the current trend towards equity-funded sidecars, according to panellists at the CFO Forum hosted in London yesterday (27 June) by The Insurance Insider
  • Global insurance rates have continued to firm in the second quarter of 2012, marking the fourth consecutive quarter of rate increases, according to a new index launched by Marsh.
  • After six months as interim CEO of Lloyd's insurer Marketform, John O'Neill has been appointed to the role permanently, the firm has announced.
  • Business process outsourcer Xchanging and loss adjuster Crawford & Company have won the battle to become the dual providers of  a prospective Lloyd's volume claims service, beating three other shortlisted candidates, The Insurance Insider can reveal.
  • Parts of northern Florida, including the city of Jacksonville, were hit by flooding as Tropical Storm Debby passed through the state.
  • The government of Spain is now the second largest shareholder in insurer Mapfre due to the bailout of the troubled lender Bankia that began last month.
  • (Re)insurers should find ways to live with the reality of negligible risk-free investment returns rather than gearing up the asset side of their balance sheets, a panel of experts has said
  • Shares in Spanish insurer Mapfre have plummeted 10 percent so far this week, as political leaders meeting in Brussels struggle to convince markets they have the will and firepower to tackle the on-going crisis.
  • The US property casualty (P&C) industry ended the first quarter of 2012 with record policyholders' surplus of $570.7bn, according to data compiled by ISO and the Property Casualty Insurers Association of America (PCI).