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  • Chartis is the lead market on the Asiana hull cover that is facing a $137mn claim following a crash involving a 747 cargo plane in July, The Insurance Insider can reveal.
  • Munich Re, Berkshire Hathaway, PartnerRe, Swiss Re and Top Layer Re (RenRe) are likely to take upwards of one-third of the circa $1.75bn deterioration in the Zenkyoren loss estimate, according to filings from the cooperative.
  • Independent London market broker BMS strengthened its pre-tax profits to £1.06mn in 2010, despite investment costs of £3mn connected to the hire of former Glencairn CEO Nick Cook and the establishment of its managing general agency (MGA) business, Pioneer.
  • Pre-tax profits at Arthur J Gallagher (UK) Limited fell by a quarter in 2010 as one-off costs associated with the acquisition of financial lines specialist FirstCity weighed on results.
  • The 1 October renewal season for UK solicitors' professional indemnity (PI) business was overshadowed by concerns about the growing involvement of unrated insurers in the fiercely competitive market.
  • Cove Programs, a newly formed underwriting agency and approved Lloyd's coverholder, has launched with ambitious plans to make inroads into an incumbent book of business.
  • Trading volumes fell in the third Lloyd's capacity auction last week as average prices rose slightly from those seen in the second auction.
  • Amlin, Liberty Syndicates and Kiln are three of the four firms to have achieved green lights under the Lloyd's traffic light system that is being used to measure progress on Solvency II, The Insurance Insider has learned.
  • The direct and facultative market seems ambivalent regarding the prospect of standalone contingent business interruption (CBI) cover. This comes after Munich Re urged (re)insurers to consider carving out supply chain risks and covers from standard physical damage/business interruption (PD/BI) coverage.
  • Lonmar's recently disclosed £2mn commissions overcharging scandal related to a marine lineslip led by Watkins syndicate at Lloyd's, The Insurance Insider has learned.