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  • The US commercial lines insurance industry is running at an operating loss, according to chairman and CEO of WR Berkley Corporation Bill Berkley.
  • Hurricane Paula, the category 2 storm off the coast of the Yucatan Peninsula which is bound for Cuba, may cost the insurance industry up to $200mn, according to an early loss estimate from catastrophe modelling firm Eqecat.
  • The London market is unlikely to see much merger and acquisition (M&A) activity in 2011, according to ratings agency AM Best.
  • Private equity-backed retail and wholesale insurance broker Integro has taken over San Francisco-based reinsurance broking house ReSource Intermediaries for an undisclosed sum.
  • Mike Onslow, chief underwriting officer at HCC International, has resigned, The Insurance Insider can reveal.
  • 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.
  • Audley Gilroy-controlled legacy (re)insurer Grafton has completed a transfer for UK supermarket giant WM Morrison PLC’s captive run-off liabilities – a deal which sources suggest represents ‘tens of millions’ in liabilities. 
  • As we sat down in the Fairmont Hotel in the heart of Monte Carlo,our ears were ringing with talk of new energy market initiatives andLloyd's syndicates. The market was as feverish as it has been at any time since theaftermath of Hurricane Katrina
  • Barclays Capital analysts have downgraded their outlook on Bermudian reinsurer Everest Re's stock, despite both Standard & Poor's (S&P) and AM Best saying that they are unconcerned by the unexpected resignation this week of CEO-in-waiting Ralph Jones III.
  • Standard & Poor's (S&P) has raised its outlook on Swiss Re to positive, edging the reinsurer closer to restoring its coveted AA rating.