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  • Eighty-one percent of UK insurance executives feel that if the UK Government fails to improve tax competitiveness, there will be a drop in the number of insurance firms based in Britain. This was the finding of a survey of 75 UK insurance industry leaders
  • Global broker Willis has announced that its E&O insurers are to disburse $130mn to settle the last of the lawsuits arising from its involvement in the infamous London Market personal accident (PA) reinsurance spiral of the late 1990s.
  • Ratings agency Fitch has changed its outlook on Novae Group’s UK FSA authorised insurance subsidiary, Novae Insurance Company Limited (NICL), to negative from stable...
  • The ability of solvent UK insurers to finalise their liabilities through schemes of arrangement is in question, after a Scottish court appeared to rule that they should not be sanctioned unless creditors unanimously vote in favour of the proposals.
  • The old market saying that "there is no such thing as a flat renewal" could have been made for this year's Monte Carlo Rendez-Vous, as an overall picture of a healthy but fragmented reinsurance market emerged.
  • Lloyd's insurer Omega Underwriting Agents Ltd is now planning to increase its 2010 Syndicate 958 capacity by 12 percent to £280mn (2009 £250mn) – less than the initial 20 percent pre-emption...
  • An 11-strong group of reinsurers that includes Lloyd's of London and eight of the top ten global reinsurance groups used last week's Monte Carlo Rendez-Vous to launch a worldwide body to represent the industry with a unified voice.
  • Canadian combine Fairfax Financial Holdings Ltd closed its $1bn fundraising last Friday (11 September) as it prepares to buy out minority interests in its affiliated reinsurer Odyssey Re.
  • Hugh Powell, the head of GCFac's Latin American operations, has resigned from the facultative arm of reinsurance broker Guy Carpenter to join rival Willis, our sister publication Inside FAC revealed this morning.
  • German reinsurance giant Hannover Re bucked the pervading downbeat mood on potential rate increases during last week’s Monte Carlo Rendez-Vous...