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  • Energy industry mutual Oil Casualty Insurance Ltd (OCIL) said that it is not in dispute over asbestos-related claims on its 2005 excess liability cat bond Avalon Re.
  • Cat bond issuance is well on course to meet market estimates of $3bn for the full year 2009 after a flurry of activity in the insurance-linked securities (ILS) sector – which has stormed back after the impasse caused by the Lehman Brothers collapse.
  • The dispute between rival London market brokers BMS Group and CJ Coleman (CJC) has reached a new level of severity, as the former managing director of BMS Harris & Dixon Ltd (BMS H&D), John McCormack, took the stand in the UK High Court to defend himself.
  • With crash victims hailing from over 30 nations, the Air France Flight 447 loss has thrown into stark relief the complications in setting aviation passenger liability reserves since the widespread adoption of the 1999 Montreal Convention.
  • The insolvent estate of New York insurer Midland is attracting interest from "a host of significant private equity sources", even before the final request for proposals (RFP) has been approved.
  • Market experts have described Lloyd's underwriter Omega's ÂŁ50mn-ÂŁ125mn offer to buy-out Names' capacity on its flagship Syndicate 958 as a shrewd move to utilise its excess capital.
  • 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.
  • Major writers of US catastrophe reinsurance business look set to benefit from changes to new releases of the software they use to measure their exposure to California earthquake that will reduce the estimated hazard of a temblor by up to 35 percent.
  • Less than six weeks after launching at Lloyd’s, RenaissanceRe (RenRe) has agreed a deal to buy out the turn-key managing agency through which it established its Syndicate 1458 on Lime Street.