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  • On the eve of the first Lloyd's capacity auction for 2012, a number of syndicates with third-party capital have again confirmed plans to expand their capacity for next year.
  • Lloyd's has rejected the initial 2012 business plan presented by loss-struck Equity Syndicate Management Ltd, forcing the troubled motor insurer to submit a revised proposal that lowers the target premium.
  • Lloyd's (re)insurance broker RFIB Group has recruited Nick Burn as director of International Property and Construction in its Global Property and Construction Direct, Wholesale and Facultative business.
  • Industry veteran Charlie Cantlay, former chairman of Aon Benfield's Global ReSpecialty team and its UK operations, is to join wholly-aligned Lloyd's (re)insurer Ascot as executive director.
  • The UK government has announced that it will outlaw referral fees for personal injury claims in motor accidents, a move long campaigned for by the insurance industry.
  • Former Heath Lambert CEO Adrian Colosso is stepping down from London-headquartered broker Gallagher International just four months after the company swallowed up the UK retailer
  • Clyde & Co and Barlow Lyde & Gilbert became the latest law firms with sizeable insurance practices to agree a merger.
  • German-based legacy acquirer Darag has bought the legacy business of Austrian insurer Garant, in a further sign of increased sell-side appetite for run-off transactions in continental Europe
  • New Zealand's Earthquake Commission (EQC) has lost its case in the High Court of New Zealand over the question of how much insurance cover it provides when there are multiple disasters within a year, loading more cost onto the government-backed fund.
  • A US regulator has sued 17 of the world's largest banks over their role in allegedly mis-selling $200bn of mortgage-backed securities (MBS) to the state-backed mortgage agencies Freddie Mac and Fannie Mae.