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  • The UK Supreme Court has ruled that UK courts have the power to strike out fraudulent insurance claims for abuse of process but that this remains a "largely theoretical possibility".
  • Hardy Underwriting has parted with David Carson, the head of the property treaty segment whose performance pushed the venerable Lloyd's business towards a sale, The Insurance Insider can reveal
  • Independent London market and UK broker RK Harrison Group (RKH) has refinanced its existing debt facility to obtain extra firepower for new acquisitions and ventures
  • The global non-life insurance sector is "ready for take-off" in 2012 after its premium base grew 1.9 percent in 2011, according to Swiss Re's latest Sigma study.
  • A protracted David and Goliath battle between global insurer Ace (market cap: $24bn) and run-off acquisition firm Randall & Quilter (R&Q; market cap: £50mn/$80mn) was averted after the firms settled their festering dispute over the so-called Brandywine companies
  • When John Charman parted company with Ace in March 2001 he spent just eight months on the sidelines before officially re-entering the market as president and CEO of post-9/11 start-up Axis Specialty after a $1.6bn fund-raise.
  • Bermudian (re)insurer White Mountains has agreed to purchase two run-off subsidiaries from AIG in a deal worth $35mn, continuing its recent run of legacy deal making.
  • London-based wholesale broker Lonmar Global Risks has posted a profit in 2011 as the £2.3mn proceeds of a transfer of a team of brokers to London rival AJ Gallagher (UK) pushed the firm into the black after a challenging 2010.
  • Moody's has downgraded the financial strength ratings of Goldman Sachs' expansive insurance operating subsidiaries from A2 to A3 after cutting ratings on the investment banking giant last week.
  • Sean Quinn, the founder of Irish insurer Quinn Insurance, faces a possible prison sentence after being found guilty of contempt of court in Dublin today.