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  • London market broker Glencairn suffered a 63 percent slide in pre-tax profits to £634,000 in 2009 as the cost of its integration into global broker Willis took its toll.
  • A shortlist of 40 or more potential buyers interested in acquiring troubled Irish insurer Quinn has been whittled down to five contenders, including Anglo Irish Bank, Travelers Insurance and Liberty Global.
  • Solvency II will be a catalyst for corporates to close down their captive insurers, rating agency AM Best predicts.
  • Lloyd's (re)insurer Hardy Underwriting Bermuda has hired two underwriters from QBE to spearhead its entry into the kidnap and ransom (K&R) market and facilitate its expansion in crop insurance.
  • Standard & Poor's (S&P) has raised its outlook on Swiss Re to positive, edging the reinsurer closer to restoring its coveted AA rating.
  • Mike Onslow, chief underwriting officer at HCC International, has resigned, The Insurance Insider can reveal.
  • Private equity-backed Lloyd's insurer Canopius is to cease writing big-ticket UK professional indemnity (PI) business and will let two of its underwriters go.
  • Motor insurance costs rose by nearly a third over the past year, the largest annual increase in the past 15 years, according to the latest AA Index.
  • Ace has reorganised its London market marine operation after the departure of hull class underwriter Rob Henbury and liability class underwriter Robert Jones.
  • The shipowners' protection and indemnity (P&I) clubs have reaped improved investment returns on recovering equity markets, with the members of the International Group (IG) for the policy year ending 20 February 2010 reversing heavy earlier losses in 2008/2009.