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  • UK (re)insurance companies 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.
  • Kiln Syndicate 1880 is in line to take $700mn of gross losses from its reinsurance of the Tokio Marine Sri Muang joint venture in Thailand, The Insurance Insider can reveal
  • Beazley is among the companies that have recently approached Hardy Underwriting with a view to a takeover, The Insurance Insider has learned.
  • The industry's largest reinsurer Munich Re has estimated modest net claims of EUR500mn ($670mn) for the flooding in Thailand.
  • Premium income at maritime insurer Skuld grew 13 percent in the third quarter compared to the prior-year period - largely as a result of its start-up Lloyd's syndicate Skuld 1897, which launched in February.
  • Reinsurance capital continued to recover in the third quarter but still lags behind the level it started the year with as a result of the heavy toll of cat losses and lacklustre investment returns.
  • US insurer Markel Corp has agreed to buy Thomco, a privately held programme administrator that will write over $170mn in gross written premiums this year
  • Ryan Specialty Group (RSG) has launched a new transactional liability and tax insurance facility on paper provided by Arch, Freedom Specialty and a US subsidiary of European insurance giant Zurich Financial Services.
  • Hardy will lose 12 percent of tangible book value from the Thai floods, whereas Catlin at the other extreme will forfeit less than 1 percent of book value, Espirito Santo insurance analyst Joy Ferneyhough has estimated.
  • US P&C giant Travelers registered renewal rate increases of 5.8 percent on its business insurance accounts in November, as the improvement in the rating environment intensified in the fourth quarter