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  • The governments of Pakistan, Iran and Turkey have agreed to establish an Economic Cooperation Organisation (ECO) reinsurance company headquartered in Karachi, according to local reports.
  • The final framework of Solvency II (SII) is likely to be "tamed down" from the greatly increased capital requirements in the latest Quantitative Impact Study (QIS5), says Swiss Re board member Martin Albers.
  • The New York Insurance Department (NYID) last week (10 February) adopted the final version of its producer compensation disclosure regulation, which from 2011 will allow brokers to accept the contingent commissions lost in the Spitzer era.
  • Pat Ryan - the founder and retired executive chairman of Aon Corporation - is set to launch Ryan Specialty Group, a new managing general agent (MGA).
  • The head-on collision of two Belgian commuter trains this morning (15 February) is understood to be covered by the private insurance market, with a local programme in force to cover the liabilities of state-owned railway operator SNCB.
  • Discussions over a deal for London market electronic trading platform RI3K have reached advanced stages, and The Insurance Insider understands that global IT providers Hewlett-Packard (HP) and Dell have joined IBM in outlining offers.
  • Allied World has substantially exceeded analyst earning projections after it joined its peers in recovering strongly from a cat hit 2008.
  • Full-year results to date suggest that 2009 was a year of solid recovery for the (re)insurance industry, with healthier investment performance and modest underwriting gains helping companies find their way back to profit.
  • Catastrophe modelling firm Eqecat estimates that the winter storms that struck the eastern US coast in the past week will cost insurers more than $2bn.
  • The total insured loss from the hangar that collapsed under the weight of snow at Dulles airport in Washington last week, crushing the aircraft inside, has been estimated at up to $440mn, The Insurance Insider understands.