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  • While Aon's proposed move to the UK is contentious in its hometown of Chicago, delegates at The Insurance Insider's InsiderScope London event this morning heard industry leaders laud the move as a great boon for the City.
  • Aon found that global insurance pricing across all of the business it places improved throughout 2011 to the point where it was flat in the fourth quarter
  • The (re)insurance industry is set for a new golden age if it can seize the opportunities created by a rapidly changing global landscape, says Willis chief Joe Plumeri
  • The traditional loss-driven market cycle is not functioning at the moment, with more than $100bn of cat losses failing to trigger a broad rating turn, said Kiln CEO Charles Franks
  • The US excess and surplus lines market is set to swell as specialist business migrates from admitted carriers, says Pat Ryan, the founding chairman and CEO of Ryan Specialty Group
  • Confirming the limited upsurge in rates last year, Catlin said international and US direct and facultative (D&F) property rates, written by its London and international offices, rose by 10 percent and 4 percent respectively in 2011.
  • A strong performance in the fourth quarter pushed Catlin to a $71mn full-year profit, with the (re)insurer's back-weighted outward aggregate reinsurance programme kicking in during the second half of 2011
  • Reinsurer Scor said it experienced an overall rate increase of 2.2 percent across the EUR2bn of premium that renewed on the 1 January, fuelled by strong pricing in property cat business after last year's $100bn+ of catastrophe insured losses.
  • The Hanover Insurance Group reported net profits of $49.3mn for the fourth quarter that were dented by a $55.6mn cat hit that included $38.5mn of Thai flood losses in its newly acquired Chaucer Lloyd's operation.
  • Everest Re reported fourth quarter operating losses of $50.7.mn, or $0.94 a share which came in worse than Wall Street consensus of a $0.71 a share deficit.