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  • 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.
  • 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.
  • UK run-off acquisition firm Randall & Quilter Investment Holdings plc (R&Q) is upbeat about prospects despite the growing competition in London Market run-off acquisition.
  • Last month The Insurance Insider predicted PwC partner Dan Schwarzmann’s time was likely to become more scarce following his elevation to head the firm’s Business Recovery Service Practice, just as the Western economies teeter...
  • The 6 October saw Randall & Quilter (R&Q) affiliate Cavell USA launch its UK offensive against private equity owned Seaton Insurance Co and Stonewall Insurance Co in the English Commercial Court for alleged breach of...
  • The Lloyd’s sidecar vehicle, Managing Agency Partners (MAP) Syndicate 6103, intends to renew its capacity for 2009.
  • Heavy claims in the first half of 2008 have pushed the US property casualty insurance industry to an underwriting loss of $5.6bn for the period, and a combined ratio above 100.
  • 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.
  • Lloyd’s (re)insurer RJ Kiln and Co is to form a new syndicate for the 2009 year of account, The Insurance Insider understands.