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  • UK regulator the Financial Services Authority (FSA) unveiled a 10.1 percent budget increase for the upcoming financial year as the cost of a more intrusive regulatory regime mounts.
  • Solvency II implementation spending by UK regulator the Financial Services Authority (FSA) will amount to £46.4mn in the financial year starting 1 April 2011.
  • Soft market pressures and a reduction in the use of reinsurance have left the directors' and officers' (D&O) sector vulnerable to a repeat of the pain it suffered in the late 1990s and early 2000s.
  • Investment bank JPMorgan completed an innovative longevity hedge last month, with capital markets investors welcoming its short-term duration.
  • Novae Group, the Lloyd's insurer nearly brought to its knees 10 years ago by a torrent of US casualty reinsurance exposures, looks set to announce that it has finally dealt with its legacy past
  • Directors' and officers' (D&O) underwriters need to change the way they price the excess layers on towers of insurance coverage to avoid the pitfalls of past soft markets.
  • The catalyst for a turn in the pervasive soft market conditions of the insurance underwriting cycle does not have to be a major event, according to MMC chairman and CEO Brian Duperreault.
  • Mapfre achieved an 8.7 percent increase in revenues for full-year 2010, despite a EUR 106.1mn hit from the Chilean earthquake.
  • Global specialty insurer Ace has revealed a threefold increase in pre-tax catastrophe losses for 2010 to more than $400mn, along with guidance that this figure for 2011 already stands at $370mn.
  • Munich Re's full-year profits slid by 5 percent to EUR2.43bn as it reported that catastrophes had cost it EUR495mn in the final quarter of 2011 and pushed its full-year combined ratio over 100 percent.