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  • A scheme of arrangement for insolvent UK insurer Highlands Insurance Company (HUK) has become effective.
  • Run-off (re)insurer Alea Group booked a net loss of $44.7mn in the first six months of 2009, compared to the small profit of $819,000 in the first half of 2008.
  • Hannover Re continued its pioneering ILS legacy with the launch of its $60mn sidecar-style vehicle Fac Pool Re - the first dedicated, securitised facility for facultative exposures.
  • Disappointing trading volumes in insurance-linked derivatives have pushed the world's largest interdealer broker ICAP plc and insurance intermediary JLT to close their joint venture vehicle, ICAP-JLT Ltd.
  • Controversy has emerged once more over the reinsurance of major Costa Rican reinsurance covers placed in the London market, with allegations of 'overpricing' in local news media.
  • An 11-strong group of reinsurers containing eight of the top ten global reinsurance groups and Lloyd's of London has used the Rendez-Vous to launch a worldwide body to represent the industry with a unified voice.
  • For reinsurers willing to bet on a sustained global economic recovery, the opportunities afforded by a genuine hard market and capacity squeeze in the credit and surety reinsurance market are compelling, according to senior market figures gathered in Mont
  • Softening rates, capital management and M&A are set to emerge as strong themes as reinsurance delegates fight for space at the cafés and hotel lobbies of Monte Carlo this week.
  • Despite little shortage of traditional reinsurance capacity, the talk in Monte Carlo this week will be of the likelihood of growing competition from insurance-linked securities (ILS) in 2010.
  • While MMC would welcome a formal 'sun-setting' of the so-called Spitzer agreements that included the ban on contingent commissions, president and CEO Brian Duperreault said he would welcome further guidance from US regulators.