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  • A confidential settlement between Lloyd's and Names unfortunate enough to be on the Cotesworth syndicates has pushed the total cost of the HIH bankruptcy to the Lloyd's market over £250mn, according to research by The Insurance Insider.
  • Lime Street plans to write more business than ever before – and it is not just because of the feeble sterling.
  • The active Lloyd's reinsurance-to-close (RITC) market looks set to continue, as a number of quotations to close open year syndicates at 31 December 2009 are currently under consideration.
  • Reinsurers gave in to a controlled reduction of prices at the 1 January renewal, with prospects for any generalised upturn unlikely in 2010, according to leading reinsurance brokers' reports.
  • The largest quoted buyers of short-tail reinsurance -– including Zurich, Liberty Mutual and Ace – removed $600mn- $750mn out of this market at 1/1, according to senior sources.
  • Concerns remain over the Florida Hurricane Catastrophe Fund (FHCF) and its claims paying ability in the event of a major hurricane, potentially stimulating additional demand for private reinsurance from the state's insurers.
  • The start of 2010 is set to be crucial for the London market electronic trading platform RI3K, which is seeking fresh investment as it continues to lose money.
  • As The Insurance Insider revealed earlier in the month, Bermudian (re)insurance groups Aspen and Ariel have broken off merger talks - becoming the latest in a long line of mooted deals that failed to reach fruition in 2009
  • Once a new chairman is ensconced, he will need to decide on future return of Omega's underwriting maven John Robinson.
  • Former Beazley head of specialty lines Johnny Rowell is close to returning with a start-up Lloyd's syndicate after 18 months out of Lime Street.