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  • Global P&C insurer Chartis does not expect to increase its catastrophe reinsurance spend in 2011, according to Nic Walsh, the AIG group firm's vice chairman and CEO of International
  • The (re)insurance industry cannot afford to rest on its laurels after a year of regulatory upheaval and must stay alert to new risks on the legal horizon, senior figures heard today (8 September).
  • A catastrophe event that delivered $50bn in net losses to the US insurance industry would be sufficient to turn the soft market in 2010, industry leaders heard today (8 September).
  • Property and casualty rates are just 10 percent higher than the 1999 soft market nadir that eventually inflicted deep losses on the industry, according to Alterra president and CEO Marty Becker.
  • Chartis has continued to pull back from its exposure to US workers' compensation business, warning that insurers undercutting prices in the line will go bust.
  • Former AIG CEO Martin Sullivan has joined Willis as group deputy chairman and head of a new business unit targeting the sector's largest multinational and global clients.
  • (Re)insurance group Alterra has announced it has amalgamated its Bermuda subsidiaries, Alterra Insurance and Harbor Point Re, continuing the merger process that began in May when Max Capital and Harbor Point came together to form the new group.
  • Willis's Indian joint venture has been stripped of its licence to broker insurance after being found to have breached regulations on disclosure and internal controls.
  • UK watchdog the Financial Services Authority (FSA) has appointed Margaret Cole to its board as managing director of enforcement and financial crime.
  • US hedge fund ValueAct Capital has now built a 5 percent stake in Willis Group, regulatory filings show.