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  • As the key summer renewals fast approach, the insurance market is facing an uneasy stand-off between buyers and sellers which may limit the extra premium income (re)insurers were anticipating.
  • UIB takes off in US with Houlders hires; Colemont continues expansion with Aon exec; RBSI appoints Geddes as CEO; Cooper Gay adds to political risks team with Lockton hire
  • Lloyd's gets Portuguese licence; Hiscox US expansion continues with Miami office
  • Swiss Re has moved to fill the position at the head of its insurance and specialty division vacated by newly anointed COO Agostino Galvagni.
  • Catastrophe futures pricing has softened up to 10 percent for US wind contracts in recent weeks, as traders seek to deploy capital ahead of the North Atlantic hurricane season which starts on 1 June, according to reinsurance broker Tradition Re.
  • Ed Liddy famously joined American International Group (AIG) with a $1 salary and to his growing army of critics that was all he was worth.
  • Broker Aon has called for P&I (protection and indemnity) clubs to remove war risks exclusions to allow shipowners greater certainty over coverage should they be subjected to piracy attacks.
  • In contrast to its ailing rival The Hartford Financial Services Group, Allstate Corp says it won't participate in the US government’s Troubled Asset Relief Program (TARP).
  • Bermuda's deputy premier Paula Cox has been working hard to remove the country from a list of tax havens drawn up by the Organisation for Economic Cooperation and Development (OECD).
  • Willis Group will use its strong cash flow to pay off the outstanding $103mn of its bridging loan this year, which was used to part-finance its $2.1bn acquisition of Hilb, Rogal & Hobbs in 2008.