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  • On the eve of the large US conferences (NAPSLO, PCI etc) the Bermudian closes deal to buy admitted insurer from Berkshire Hathaway and brings in US veteran to build out its stateside operations
  • Expansionist (re)insurance broker BMS has won the race to sign former Glencairn chief executive Nick Cook, a move first trailed by The Insurance Insider.
  • Over the last few decades the insurance community has seemingly become more and more reliant on using lawyers, quite often at the expense of developing fully competent in-house claims and legal expertise
  • The UK Court of Appeal this morning overturned part of a first instance decision over asbestos "trigger" litigation, prompting moves for a last ditch appeal to the Supreme Court and experts warning of legal uncertainty.
  • Specialty insurance agency CV Starr has opened a French branch of Starr Underwriting Agents in Paris, appointing former Chartis executive Nicolas Berg as regional manager Europe, Starr Casualty.
  • Aon founder Pat Ryan is continuing to build out his network at new venture Ryan Specialty Group with the acquisition of boutique wholesale broker McAuley Woods & Associates.
  • Acquisition pricing for run-off insurers compared to their net asset value (NAV) dropped in 2009, according to KPMG's annual UK non-life insurance run-off survey.
  • Family-owned London market wholesaler CJ Coleman reported full-year profits of £717,000 for last year, as it recovered from the £1.7mn of legal costs paid in 2008 after a bitter poaching dispute with BMS.
  • Zurich Financial Services Group (ZFS) has agreed to pay $455mn to settle a class action suit brought in California against its Farmers Group subsidiary (FGI) and a further $90mn in legal fees.
  • Munich Re has introduced a long-term warranty insurance product to cover the performance of solar panels in the US. The product is part of a growing stable dedicated to renewable energy technology.