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  • Lloyd's is spending £50mn per year on preparations for Solvency II with the go-live date still two-and-a-half years away, the Society's director of performance management Tom Bolt has revealed.
  • World insurance premiums fell 1.1 percent in 2009, but profitability and capital levels for the industry regained ground, the latest Swiss Re sigma study shows.
  • Ratings agency Standard and Poor's (S&P) has downgraded French insurer Groupama's insurer financial strength and counterparty credit ratings one notch to A- from A.
  • UK financial regulator the Financial Services Authority (FSA) has lost its second director inside a month, after announcing head of supervision Jon Pain will leave in January 2011 once reorganisation to prepare for a formal split in 2012 is completed.
  • Bermuda-headquartered (re)insurer Hiscox plc is planning to cut capacity by 10 percent at its flagship Syndicate 33 at Lloyd's due to "anticipated market conditions".
  • Lloyd's (re)insurer Catlin is set to plough $1bn in capital into forming a reinsurance arm in Switzerland - a move that will significantly expand the group's European reinsurance business.
  • New CFO parachuted in at Willis; Carnegie-Brown goes to Catlin; RMS hires Aon Benfield's Rao...
  • Geithner still expects loss on AIG;Towers Watson sells VIPitech to Algorithmics; Montpelier Re wins reinsurance arbitration; Xchanging to partner with European financial payments specialists...
  • General insurers rediscovered their optimism in the second quarter of 2010 despite declining profitability, according to the latest survey of the UK financial services sector from business lobby group the CBI and PricewaterhouseCoopers (PwC).
  • Singapore-headquartered insurance investor and services provider Whittington Group is launching a new direct online insurance company for the local market.