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  • Alice Schroeder’s biography of Warren Buffett ‘The Snowball – Warren Buffett and the business of life’ went on sale at the beginning of the month as its subject continues to dominate the headlines.
  • Beazley confirms MUM $37.5mn acquisition… and reshuffles following Rowell departure; Kiln appoints new CEO; Swiss Re backs new London equine agency; Amlin buys French coverholder; Ironshore hires Liberty execs; Solicitors’ PI
  • Beleaguered life securitisation Ballantyne Re has been dealt a further blow as ratings agency Standard & Poor’s (S&P) downgraded three tranches of the bond to junk status, citing mark-to-market losses in the collateral account.
  • The paradox of the legacy industry is the more successful you are; the less you have to do. Indeed, the UK non-life run-off market has now shrunk 30 percent in four years and, at £28.3bn, is the smallest it’s been for at least a decade.
  • Lloyd’s insurer Hiscox Ltd has come to an agreement with members’ agents over plans to launch a new syndicate backed 100 percent by its own capital to transfer business currently underwritten on its Names-backed Syndicate 33.
  • Transatlantic Re, the New York headquartered reinsurer which is majority owned by AIG, is optimistic that its ownership will be resolved later this month to limit uncertainty as the industry gears up for the forthcoming renewal season...
  • Offshore energy losses from Hurricane Ike could cost the market over $3bn, it has emerged.
  • Bermudian reinsurer Harbor Point Ltd is looking to build its London presence after being approved by UK regulator the Financial Services Authority to convert its representative office to a fully licensed branch operation.
  • QBE parts company with US chief; Allianz invests $2.5bn in troubled Hartford; PARIS RE buys out founding shareholder; Lehman Re in liquidation; NAIC collateral proposals welcomed; New bill refuels US tax debate
  • Industry Loss Warranty (ILW) prices spiked during the early part of the US hurricane season on the back of large orders in the market from beleaguered (re)insurer XL Capital Ltd.