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  • Does a strong start to the year herald the start of a long-awaited revaluation for the sector?
  • Rates for treaties covering offshore energy "surged sharply" at the 1 January renewals, according to top-five global reinsurer Hannover Re.
  • In a move that will be seen to vindicate current reinsurance market practice, Guy Carpenter has paid $4.25mn to settle a three-year-old antitrust suit brought by the state of Connecticut that alleged the broker's binder facilities prevented competition
  • UK regulator the Financial Services Authority (FSA) has announced a 10.1 percent proposed gross budget increase for the upcoming financial year as the cost of implementing changes mounts
  • Norwegian-run start-up Skuld 1897 has opened for business today (1 February) at Lloyd's underwriting box 356, amid wider fears of over-capacity in the marine and offshore energy markets.
  • The Achilles vehicle bidding for Brit has revealed that it intends to nominate former Lloyd's CEO Nick Prettejohn as chairman of the board of the Lloyd's (re)insurer.
  • US insurance broker Beecher Carlson has announced the appointment of Dan Donovan as its new CEO. The Atlanta based firm confirmed on 31 January that Donovan would be replacing outgoing CEO Tom Golub, who will be staying on as company chairman
  • The UK government is to delay the introduction of anti-bribery legislation over concerns it would prevent multinational firms winning business abroad. The legislation was meant to come into force in April, but has been delayed to give firms further time to prepare.
  • AIG has completed the sale of its Japanese life insurance ventures AIG Star Life and AIG Edison, with buyer Prudential Financial paying $4.8bn for the companies.
  • Bermudian-headquartered global reinsurer PartnerRe says it will report up to $80mn of net pre-tax losses in its fourth quarter results relating to flooding in Australia and losses in New Zealand