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  • The body responsible for regulating the UK solicitors' professional indemnity (PI) market is proposing a radical overhaul that would include abolishing the single date annual renewal.
  • Bermudian insurer Ironshore's focus will be centred on its international operations in 2011, with stamp capacity on its Pembroke Syndicate 4000 set to increase from $145mn to $175mn.
  • Reinsurance giant Munich Re has been downgraded by a number of stockbrokers, including London-based Jefferies International and Execution Noble, over its exposure to the sovereign debt of Portugal, Italy, Ireland, Greece and Spain (PIIGS), especially through covered bonds.
  • The pleas of some of the more vocal members of the Lloyd's underwriting community for the drawbridge to be raised to new market entrants may not have fallen on deaf ears.
  • Despite balance sheet strength, Bermudians are facing a raft of challenges that will lead to disparities in companies' financial performance over the next 12-18 months, AM Best has warned.
  • The body responsible for regulating the UK solicitors' professional indemnity (PI) market is proposing a radical overhaul that would include abolishing the single date annual renewal.
  • In a report which puts the catastrophe losses from European windstorms in the last three years at around EUR6.2bn, Aon Benfield has warned that bigger losses are possible due to increased exposure.
  • Listed Lloyd's (re)insurer Novae is set to return £32.9mn of capital to its shareholders, or 13.6 percent of its market capitalisation.
  • XL Insurance has promoted Bob Shine to head the underwriting of its North America property and casualty (P&C) business.
  • Acquisitive broker Arthur J Gallagher & Co (AJG) has continued to build out its retail business with a deal to buy Premier Risk Services.