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  • London and international market (re)insurers are set to be questioned as part of a new European Commission (EC) investigation into possible anti-competitive activity among the 13 shipowner mutuals of the International Group of Protection and Indemnity (IG) clubs.
  • Leading insurance-linked securities (ILS) investor Clariden Leu last week unveiled a $20mn a "cat bond lite" transaction that saw it transform an industry loss warranty (ILW) contract into tradable cat bond notes.
  • A raft of planned ILS funds were announced last week as well as the official launch of Horizon21 spin-off Twelve Capital, The Insurance Insider's sister publication Trading Risk reported.
  • The World Trade Center (WTC) Captive Insurance Co has extended its deadline for plaintiffs to consider opting in to its $700mn+ settlement scheme by two months until 8 November.
  • Lloyd's (re)insurer Amlin leads the cover on the passenger plane that crashed in the Heilongjiang province of China on 23 August, The Insurance Insider revealed last week.
  • Price Forbes' full-year 2009 accounts show that the London market wholesaler returned to profit after interest payments dragged it to a loss in 2008.
  • The merger between Cooper Gay and Swett & Crawford did not trigger change of control provisions in the latter's $415mn debt facility, saving it from the need to carry through a potentially costly refinancing operation, The Insurance Insider can reveal.
  • The Taiwanese financial regulator has vetoed American International Group's (AIG) proposed $2.15bn sale of its life insurance segment, dealing a blow to the US insurer's efforts to repay its debt to the government.
  • Warren Buffett, as he celebrates his 80th birthday, has signalled his intention to treat himself to the remaining 19.9 percent of Wesco in a deal that could cost Berkshire Hathaway $500mn.
  • Lloyd's insurer Chaucer suffered a difficult first six months of 2010 as it announced pre-tax profits down by 59 percent last week to £7mn on a combined ratio of 105 percent.