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  • Amlin plc – which has twice been in the running to buy fellow Lloyd's (re)insurer Chaucer – has at last found a target for its surplus cash, with a deal to buy Fortis Corporate Insurance NV (FCI) from the Dutch state.
  • Standard & Poor’s (S&P) has cited Hannover Re’s retro strategy as a factor in deciding to downgrade the outlook to negative on the reinsurer’s AA- credit and insurer financial strength ratings.
  • With Florida insurers enjoying an easier-than-expected time at the 1.6 renewal of reinsurance programmes, all eyes are turning to 1.7 - which brings broader non-Florida specific US cat and international business into focus.
  • The US P&C market is being dragged down by a macabre contest between a group of three “desperate insurers” slugging it out in a classic end-of-soft-market scenario.
  • Buffy is troubled by a ratings downgrade and an expert appointment.
  • Blue Coast and Nelson Re trade down; Ajax Re latest Lehman TRS bond default; Babcock in ILS first with pension longevity swap
  • A new specialist (re)insurance law firm - Carter Perry Bailey (CPB) - opened its doors for business on Lloyd’s Avenue at the beginning of June.
  • The $235mn settlement agreed by Banco Santander over its Madoff exposures could increase pressure to force rates upwards in the international directors' and officers' (D&O) markets if a full loss comes in on the bank's cover.
  • According to the consensus of a collection of senior industry figures, the days of a top-heavy market with large amounts of capital chasing transactions and pushing deals through at a premium to NAV are gone.
  • EC3 players worried financial crises will lead to unwarranted scrutiny; FSA assessments launched.