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  • Bermudian short-tail specialist Lancashire Holdings has unveiled a $200mn credit facility with UK banking group Lloyds TSB.
  • Ian Beaton, the CEO of private equity-backed Lloyd's insurer Ark Syndicate Management Ltd, is poised to become a non-executive director to the Xchanging Claims Services (XCS) board.
  • John Coldman, who was parachuted in as chairman of Bermuda-based Omega Insurance Holdings last month, has revealed to shareholders that he is undertaking a "comprehensive review" of the business.
  • AM Best and Conning Research & Consulting have predicted a troubled 2010 for the US property and casualty (P&C) insurance industry, as softening rates, anaemic investment returns and dwindling reserve releases erode profitability.
  • Lloyd's has moved to impose controls on managing agents that write errors and omissions (E&O) policies for insurance brokers that also place business with them, The Insurance Insider can reveal.
  • It was profoundly disappointing, but not altogether surprising, that the emergence last week of global banking levy proposals should have attempted to tar the insurance industry with the soiled and fetid bankers' brush.
  • Platinum Underwriters has confirmed that is wary of exposing itself to the increasingly risky Florida insurance market as the major treaty renewal season for the state approaches.
  • Travelers, Chubb and Platinum have set a positive tone for the early first quarter results, with favourable reserve releases and improved investment performance offsetting heavy catastrophe losses.
  • Lloyd's insurer Novae Group is continuing to explore options to shed its US legacy liabilities despite recently ending exclusive talks with Bermudian run-off firm Enstar, The Insurance Insider understands.
  • The up to $1.25bn Deepwater Horizon oil rig loss will reverse softening in the Gulf of Mexico (GoM) and other pockets of the offshore energy market, according to sources.