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  • Amlin plc has predicted a strong rise in reinsurance rating levels as insurers look to retain less of their exposures, reversing the trend of recent years.
  • Legislation to reform the Lloyd’s Act 1982 officially came into force today (19 November) in a move that the UK government said will modernise the operation of the world’s oldest insurance market.
  • The Aon Benfield deal is due to close on 28 November after the final regulatory obstacles to the £844mn cash tie-up have been completed.
  • The Office of Fair Trading (OFT) has cleared Aon Corporation's proposed takeover of reinsurance broker Benfield Group, removing one of the final potential obstacles to the deal.
  • Troubled Australian insurance group IAG has confirmed it is placing its Singapore-based Lloyd's Syndicate 4455 into run-off and will also close its London-based Lloyd's managing agent Diagonal.
  • Hardy Underwriting Bermuda Ltd (HUB) and Novae Group have become the latest in a succession of Lloyd's-based (re)insurers to point to hardening rates and business opportunities in 2009 in interim management statements.
  • French-headquartered reinsurer SCOR booked a relatively strong net profit for the year to 30 September of EUR280mn – down just 6.7 percent on the prior-year period.
  • US specialist information provider Insurance Services Office has filed for an initial public offering (IPO) in a move that would see the company and its affiliates become subsidiaries of a "publicly traded holding company".
  • American International Group (AIG) has cancelled its deferred compensation programmes as it looks to remove incentives for staff to leave.
  • Swiss-based (re)insurer Glacier Group says it expects gross claims before reinsurance from Hurricanes Gustav and Ike of $6mn and $65mn respectively, based on industry loss estimates of $5bn for Gustav and $16bn for Ike.