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  • The Bermuda operation of Lloyd's (re)insurer Hiscox is the latest to secure approval from the Florida regulator to cut its collateral requirements back from 100 percent to 20 percent.
  • French insurer Axa's latest cat bond, Calypso Capital, has closed at almost double initial targets, offering EUR275mn of European wind exposure to insurance-linked securities (ILS) investors.
  • Luxembourg-domiciled Flagstone Re bucked analyst expectations of a Q3 loss and a $52.5mn net loss from the Christchurch earthquake to book profits of $37.3mn for the period.
  • Axis Capital reported an estimated $85mn net loss from the New Zealand earthquake that did not prevent a significant swing to a third-quarter $239mn net profit from a $96mn net loss in the prior-year period.
  • Everest Re chairman and CEO Joe Taranto highlighted the difficult state of the US casualty insurance market as he said the (re)insurer would look for new opportunities in property and shorter tail lines of business instead.
  • Navigators launches reinsurance unit; QBE takeover of Secura approved; Run-off broker buys rival; Marsh takes Willis exec for relationship management role
  • GHC stung by defection of marine broker; New CFO on Axis bench; QBE appoints new global underwriting leader; ECIC underwriter promoted
  • Bermuda, Japan and Switzerland will be first in line for assessment to see whether they merit "equivalency" recognition under the Solvency II accounting regime before it starts in 2012.
  • London market brokers Tysers and Lonmar Global Risks face a nervous wait for a UK Court verdict on a rancorous £2.5mn poaching case, with the stakes high for both sides.
  • The growing intolerance of corporate bribery was demonstrated last week with the PWS Costa Rica saga ending in the imprisonment of the CEO of a once leading London market reinsurance broker.