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  • New Zealand insurers must now be licensed by the Reserve Bank of New Zealand, as the regulator looks to increase the capital levels held by the sector following the devastating earthquakes in 2010-11.
  • Solvency II could cause firms to relocate headquarters within Europe, according to Fitch. The agency's comments closely followed Hannover Re's announcement of a change in its legal structure that would allow it to redomicile.
  • Mitsui Sumitomo and Allianz are seeking a combined $290mn of cat bond capacity for protection against Japanese typhoon and Caribbean wind perils.
  • The future of Bermudian ILS start-up Dunamis is in question after funds failed to materialise to support deals pledged by the firm during the 1 January renewals.
  • Trading in unique Japanese industry loss warranties (ILWs) is increasing as reinsurers look to gain retrocession protection in advance of the 1 April renewals, sister title Trading Risk has revealed.
  • Two competing visions of how Qatar might emerge as a regional reinsurance hub were presented to delegates at the annual Multaqa Qatar conference in Doha last week, underscoring the challenges that the nation faces if it is to fulfil its plans to diversify its economy into financial services.
  • Court-approved settlements on US securities class action lawsuits fell to $1.36bn in 2011, the lowest level in more than 10 years.
  • Strong retro buffers were a defining feature of the 2011 results for a handful of canny reinsurers, as Hannover Re and Scor reclaimed more than EUR1bn on losses, according to analysis by The Insurance Insider.
  • The top four European reinsurers finished 2011 clearly ahead of their Bermudian and London counterparts on posted combined ratios, according to figures from The Insurance Insider's Data Room.
  • ANV's pending acquisition of Flagstone at Lloyd's will again reduce the small collection of Lime Street businesses that are realistic takeover targets, further constraining the opportunities for would-be entrants to the market.