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  • Ratings agency AM Best offered a post-IPO endorsement to Catlin by affirming the financial strength ‘A’ (Excellent) rating of the group’s Bermudian arm, and the ‘A’ (Excellent) syndicate rating of its Lloyd’s Syndicate 2003.
  • Vince McLenaghan, widely regarded as a potential successor to QBE boss Frank O'Halloran, stepped down today amidst a restructuring of the group's Australian and Asia Pacific businesses.
  • Bermudian-headquartered Endurance Specialty Holdings is pulling out of the offshore energy market and parting company with Paul Upton, who ran the business out of its London subsidiary, our sister title The Insurance Insider revealed last week (17 October
  • British motor insurance prices suffered their biggest fall on record in the year to 30 September after carriers slashed rates in the expectation that new legislation designed to curb fraudulent claims would reduce their payouts, according to the closely watched AA insurance premium index.
  • Munich Re, the world’s second largest reinsurer, raised its full-year earnings forecast and announced its first ever share buy-back on 7 November as it became the latest industry carrier to benefit from the benign claims season.
  • Shares in Marsh & McLennan Group (MMC) spiked to $28.37 Thursday (17 January) - up 8 percent on their opening price - as news broke of an approach from rival Willis Group to open takeover talks for its larger rival.
  • Novae's well-regarded CFO Oliver Corbett has indicated he intends to leave the London-listed Lloyd's business
  • Lloyd's is restructuring its direct Japanese platform to create a model allowing all managing agencies in the market to access business written locally on a coverholder basis, The Insurance Insider revealed.
  • Swiss-based (re)insurer Allied World Assurance Company expects $75mn in pre-tax losses and loss expenses from last month's devastating earthquake and tsunami in Japan.
  • The hi-tech cargo of the Hyundai Fortune, a ship that caught fire in the Gulf of Aden last week, has been estimated at upwards of $300mn by broker Aon. An explosion on 21 March ripped a hole in the side of the vessel, blew between 60-90 cargo...