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  • Insurers are likely to get at least three years of breathing space before the full rigours of the new Solvency II (SII) regime are applied in full, according to global reinsurance broker Willis Re.
  • Modest rate increases at professional and indemnity (P&I) renewals are unlikely to be enough to help the international clubs turn in profitable underwriting results, AM Best said.
  • Piracy off the Horn of Africa has prompted Bremen-based Lampe & Schwartze Marine Underwriting to launch the first ever war risk consortium for German shipowners, with backing from an array of heavyweight continental (re)insurers.
  • Directors' and officers' (D&O) insurance lines could become unprofitable for carriers if current market trends continue, according to Standard & Poor's (S&P).
  • London councils have been warned against self-insuring by a leading professional advisory firm after a recent legal victory in the UK Supreme Court paved the way for local government mutuals to return.
  • Liberty Mutual working with Anglo Irish Bank has been revealed as the preferred bidder for Quinn Insurance, the Irish insurer that went into administration in March 2010.
  • Colemont UK Holdings, the holding company for Lloyd's broker Colemont Insurance Brokers (CIBL), suffered pre-tax losses of £299,000 in 2010, according to accounts filed with Companies House.
  • London-listed broker Jardine Lloyd Thompson (JLT) has denied market rumours surrounding an abortive deal to place reinsurance cover for Italian airline Meridiana.
  • Expansionist London-based independent broker BMS Group has signed up two high profile recruits for its growing facultative team, The Insurance Insider understands.
  • XL Insurance is understood to write 100 percent of the commercial reinsurance coverage for the Orbital Sciences Corporation (OSC) Glory satellite that failed to launch last month, sister publication Inside FAC understands.