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  • Florida regulators have admitted Ariel Re and DaVinci Re to the list of eligible insurers which may operate in the state with greater collateral flexibility, making them the first privately-owned companies on the list.
  • Global reinsurer Scor has finalised the divestment of its US fixed annuity business to Athene Holdings for $55mn.
  • Falling contingents, increased expenses and continued organic retrenchment pushed expansive US retail broker Brown & Brown's second quarter net income down more than 10 percent.
  • California's reputation as an employee-friendly jurisdiction was affirmed last week when R-T Specialty president and CEO Tim Turner won a ruling from a Los Angeles court that invalidates non-competition clauses in his contract with previous employer CRC, The Insurance Insider can reveal.
  • Five days after Validus presented a rival M&A proposal to Transatlantic Re, Allied World has broken its silence to reiterate its commitment to pushing through a merger.
  • Rating agency Standard & Poor's has put AAA rated US insurers on review with negative implications due to their large exposure to US government debt.
  • A smooth transition to the Solvency II (SII) regulatory regime is crucial to Lloyd's to ensure it maintains its "unique capital efficiencies", rating agency AM Best has said.
  • UK Prime Minister David Cameron has said he is "very sympathetic" to the idea of banning referral fees and hopes to make progress on the issue.
  • UK and European (re)insurers should not be scared into over-spending on Solvency II (SII) compliance, according to UK accountancy and business advisory firm Littlejohn.
  • The reform of the National Flood Insurance Program (NFIP) overcame a major hurdle last week after lawmakers in the US House of Representatives passed legislation aimed at overhauling the 43 year old federally run programme.