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  • As the New Year fast approaches, there is still little cheer to be found in the financial markets.  But if there is the sound of popping corks to be heard, then it might be in lawyers’ offices as many believe a wave of litigation is poised to follow 2008’s financial storms.
  • Solvency II is the long-awaited, muchdebated new regulatory approach for (re)insurers operating in the EU, but the removal of a key component from the EU Council’s draft text has thrown a major spanner in the works for the progress of the legislation at a time when the theory of regulation based on banking principles is being rethought.
  • Randall & Quilter Investment Holdings plc (R&Q) and GLOBAL Reinsurance Company have formed a partnership for the purchase and management of non-life run-off companies in Europe.
  • Benfield Group Ltd has announced a management restructure at its specialist space insurance broker International Space Brokers Inc (ISB) following the resignation of former CEO Roger Bathurst.
  • Lloyd's (re)insurer Amlin plc has reported a drop of over £40mn in its post-tax profits for the first six months of the year after reporting a slump in investment income.
  • The former CEO of Guy Carpenter, David Spiller, has been appointed chairman of Lloyd's insurer Heritage Managing Agency plc.
  • Marsh & McLennan Companies Inc (MMC) has announced the appointment of Vanessa Wittman as the group's new CFO, who replaces outgoing executive officer Matthew Bartley.
  • Australian insurer QBE Insurance Group saw overall profits rise after strong performance from its insurance underwriting division during the first half of 2008.
  • Run-off specialist Enstar has completed the acquisition of failed (re)insurer Goshawk Insurance Holdings plc after securing ownership or offer acceptances for 89.4 percent of its issued shares.
  • Bermudian (re)insurer ACE Ltd leads the cover on the passenger plane that swerved off the runway in Madrid killing more than 150 people, The Insurance Insider understands.