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  • Lloyd's opening 2009 capacity is set for a record high of approaching £17bn as pre-emptions in response to expected changes in market conditions combine with a number of new syndicates in the market.
  • Despite a number of Lloyd's syndicates already pre-empting capacity for 2009, insurers writing US business in the market face the challenge of finding additional capital in the New Year to support underwriting as a result of the swing in the $/£ exchange
  • Bermudian insurer Endurance Specialty Holdings is considering selling off its London insurance unit after a strategic review, The Insurance Insider can reveal.
  • Reinsurer XL Re Europe Ltd is facing demands by ceding companies in the London market to post letters of credit to back up underwriting of treaty renewals, The Insurance Insider has learned.
  • Independent reinsurance broker RK Carvill has announced that it is to cease placing or renewing any new treaty business incepting after 1 April 2009, The Insurance Insider has learned.
  • Hartford shares leap; Expansive QBE raises $1.4bn; AIG’s Liddy to earn $1; California wildfires to cost up to $800mn; P&C rates fall 9 percent in November
  • In a pro-industry decision, the English High Court ruled on 18 November that London market insurers led by Aspen Insurance UK were entitled to decline liability from a fire because of the policy's notification wordings.
  • Ratings on the $500mn Emerson Re sidecar - backed by hedge fund Citadel Investment Group - were "unaffected" by the firm’s decision to stop writing new business through collateralised reinsurer CIG Re.
  • Property Claim Services (PCS) raised its estimate for onshore insured losses from Hurricane Ike by just over 30 percent to $10.655bn, but the figure continues to conflict with loss projections from within the industry.
  • Further evidence of the turnaround in market conditions for airline insurance has emerged in December - the busiest month for renewals in the sector - with around two thirds of the 19 programmes renewed so far showing...