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  • The lack of standardisation, or perhaps the very individualism that Lloyd's is famous for, in the market anyway, has been highlighted by the recent acrimony caused by D J Newman's Syndicate 1218 when they issued Notices of Cancellation on every North Amer
  • Transatlantic Holdings president and CEO Robert Orlich has written to the firm's clients applauding the successful sale of American International Group's (AIG) majority stake this week, saying its new independent status marks a "new era" for the firm.
  • Lehman Brothers has agreed a $417mn settlement with a raft of banking underwriters, taking the total pending settlements in class action lawsuits relating to the investment bank's collapse to $507mn.
  • Despite UK insurance analysts’ collective scepticism over Berkshire Hathaway plans to back a Lloyd’s consolidation vehicle, sources suggest Capital Insurance Holdings remains on target to float on the Alternative Investment Market by the end of the month.
  • Munich Re has regained its targeted AA- rating from Standard & Poor’s (S&P) today (22 December) with the rating agency upgrading the German giant from A+ and assigning a stable outlook.
  • Insurance giant QBE has appointed the CEO of its Australian business, Terry Ibbotson, as its first global head of distribution.
  • Pivotal Transatlantic shareholder Davis Selected Advisors has turned down the opportunity to become an "insider" on the TransAllied deal, The Insurance Insider understands.
  • In a speech to the London Institute of Insurance last week, Lloyd’s chairman Lord Levene hammered home the importance of business process reform and sound underwriting as he warned that, despite the progress in turning the corporation around, complacency
  • Reinsurance broker Benfield has announced that it is ready to process live risk messages with the G6 group of Lloyd’s insurers after implementing its peer-to-peer standard messaging system.
  • UK general insurer Royal & Sun Alliance has unveiled plans to cut over 1500 jobs in an efficiency drive that will save the group £130mn in annual costs.