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  • Lonmar Global Risks has reached a cash settlement with fellow London independent Tysers for court costs arising from the 12-day staff poaching trial that ended with all claims being dismissed, The Insurance Insider can reveal
  • Any injury-related costs from a mining explosion in New Zealand are unlikely to impact the international insurance industry as accident cover is provided by a national compensation scheme.
  • QBE has continued its North American acquisition drive by agreeing to purchase Bermudian RenaissanceRe's US insurance operations for around $275mn.
  • Lloyd's and motor insurer Chaucer will set up a new energy division and build a direct brand for its UK motor business after completing a strategic review into its operations under new CEO Bob Stuchbery.
  • Kiln, the Lloyd's subsidiary of insurance giant Tokio Marine, has announced that Edward Creasy is to step down as chairman after 11 years at the firm.
  • Bermudian reinsurer Platinum Underwriters has reported that rising costs from the New Zealand earthquake will cost it $40mn in the fourth quarter, adding to $28.5mn losses reported in Q3.
  • Bermuda-domiciled Lloyd's carrier Omega Insurance Holdings has bought in additional reinsurance cover after it was dragged to a first-half loss by catastrophe activity and then hit by the New Zealand earthquake in September.
  • CatCo, the aspiring catastrophe reinsurance fund, is hoping to raise sufficient capital to list on the London Stock Exchange next month.
  • Caribbean and Lloyd's insurer Sagicor has taken a $7.8mn loss in the third quarter on its international property and casualty business written from London, after the New Zealand earthquake added to the Chilean losses it took earlier in the year.
  • Aspen Insurance UK has received regulatory approval to start underwriting from a Zurich branch as an admitted direct insurer in Switzerland.