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Torus withdraws from excess casualty
Relative newcomer Torus's withdrawal from the excess liability market in March was hastened by last year's heavy loss experience in the segment, sources suggest
30 March 2011
International digest
Amlin's Dutch CEO walks; Gryphon loss ups to $800mn; MMC in boardroom reshuffle; Albers heads new Swiss Re arm; Munich Re suspends buybacks...
30 March 2011
London digest
Nuclear leads Lloyd's top performers; RK Harrison profits dip; Brit squeeze-out begins; Atrium merges on Wilkins exit; Advisen Connects...
30 March 2011
BP claims derivative suit should be heard in UK
BP has asked a Texas judge to dismiss a lawsuit filed by some institutional investors, claiming the UK High Court should hear the case
30 March 2011
Spitzer-inspired antitrust suit finally settles
A roll-call of stateside insurers and brokers agreed to pay $36.8mn in March to settle a long-running Eliot Spitzer-inspired lawsuit that claimed the companies engaged in bid-rigging
30 March 2011
Ryan settles with AmWins as CRC poaching battle looms
US broker AmWins has settled the lawsuit it brought last year against Pat Ryan's wholesale start-up RT Specialty that alleged "misappropriation of trade secrets" after the defection of one of its senior brokers
30 March 2011
FSA spending to increase despite ‘flattening’ duties
The UK Financial Services Authority (FSA) has confirmed its budget for the financial year 2011/12 will increase by just over 10 percent to £500.5mn
30 March 2011
UK insurers to benefit from coalition budget
UK corporation tax will be cut by 2 percent this year, as the government outlined its plans to boost growth in a budget that tax advisers instantly hailed as good for insurers
30 March 2011
UK brokers slam regulatory burden
The regulatory cost for brokers in the UK is three times higher than for rivals in the second most expensive European state, new research by the British Insurance Brokers Association (Biba) has revealed
30 March 2011
Europe’s reinsurers stressed again
The European Insurance and Occupational Pensions Authority (Eiopa) will conduct a second industry-wide stress test to assess participants' vulnerability to a range of potential adverse developments
30 March 2011
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