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  • Bermudian (re)insurer Allied World Assurance Company (AWAC) is to launch a Lloyd's insurer that will begin underwriting later this month.
  • BP and the other companies embroiled in the Gulf of Mexico oil spill disaster face a total liability of up to $40bn, according to US energy financier Tudor Pickering Holt & Co (TPH). 
  • The war of litigation between US wholesaler CRC Insurance Services and Ryan Specialty Group (RSG) continues to escalate.
  • Populist Florida governor Charlie Crist has exercised an 11th-hour veto of a state property insurance bill (SB2044) because it would have allowed limited price increases to policyholders
  • US insurance giant Chubb has confirmed plans to launch a Lloyd's insurer that will underwrite through the start-up Syndicate 1882.
  • Alterra Managers, a US unit of Bermudian (re)insurer Alterra Capital, has hired Sharebridge Underwriting's Doug Worman.
  • Prudential has conceded to shareholder pressure and abandoned plans to acquire the Asian life insurer of the American International Group (AIG), which refused to revise the deal terms.
  • Aspen Insurance Holdings has announced the appointment of AIG Europe's former Swiss general manger Heinz Eggenberger as general manager of its new Switzerland based general insurance business.
  • Guy Carpenter confirmed expectations of continued market softening after reporting risk-adjusted average reinsurance pricing falls of 10 to 12 percent at the 1 June Florida renewals.
  • US broker Arthur J Gallagher has branched out into the UK employee benefits arena by acquiring London-based consultant and insurance broker Risk & Reward Group for an undisclosed sum.