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  • Aon Benfield is facing another lawsuit over the alleged non-payment of loyalty fees to a Florida insurer.
  • UK city minister Mark Hoban hailed the UK government's announcement last week on the reform of taxation of foreign profits, a move that has already been widely welcomed within London for improving the competitiveness of the market.
  • The European (re)insurance industry has become too hung up on the Pillar I capital aspects of the new Solvency II regime and has not paid enough attention to the risk management elements, Karel Van Hulle, head of the European Commission's insurance and pensions unit has said.
  • UK (re)insurers have learned further details on how they may be permitted to plough ahead with their Solvency II implementation, despite the likely legislative delays, and adopt their internal model data as initially scheduled on 1 January 2013.
  • The issue of how Solvency II treats volatility and cyclicality, such as in the current Eurozone crisis, emerged as one of the major themes at the Association of British Insurers' conference
  • The European Commission (EC) has held high-level discussions about whether the sovereign debt of member countries should remain "risk-free" under Solvency II rules during the on-going Eurozone debt crisis.
  • Quoted Lloyd's insurer Amlin is turning to the cat bond market for the first time through its new Tramline Re offering, seeking aggregate reinsurance cover for peak US and European perils.
  • Two new cat bonds closed to strong demand last week, taking total 2011 sales to $4.5bn.
  • While most of the industry has its attention focused on Thailand, the US property market looks set to take one of the largest single risk losses of the year
  • Sister title Inside FAC revealed last week that the niche space insurance market looks set to take a $40mn hit as a result of the failure of Russia's ill-fated Phobos-Grunt spacecraft, which had been on a mission to Mars.