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  • Reinsurance broker Guy Carpenter & Company has announced that it has been awarded the Wholly Owned Foreign Enterprise (WOFE) broking license by the China Insurance Regulatory Commission (CIRC).
  • Catastrophe modeller AIR has estimated that insured losses from Germany alone could reach almost EUR6bn following the recent European floods - double the top end of previous projections for the overall impact on the sector.
  • Losses attributed to the recent flooding across Central Europe have now exceeded $1.5bn following a series of loss estimates from major (re)insurers last week
  • Last month’s long-awaited announcement by UK insurer Royal & Sun Alliance Group plc (R&SA) that it had succeeded in agreeing a deal to cut itself free from its US run-off business has fuelled speculation that the company may be the subject of renewed take
  • Charles Philipps has warned that Lloyd’s must preserve its security rating, or face disastrous consequences that would spell the end of the market in its current form. Speaking at Lloyd’s on 11 January as part of a series of lectures...
  • American International Group (AIG) paid off its credit facility with the Federal Reserve Bank of New York (FRBNY) last week, taking a significant stride towards independence from the US government in the process.
  • After a drawn-out process, approval has finally been received for the transfer of the motor books of syndicates 37 and 2037 from Lloyd's to Highway Insurance Company using the Part VII mechanism.
  • Six months of benign catastrophe losses and low attritional losses more than offset a choppy investment environment to make a meaningful improvement in the reported profitability of the specialty London (re)insurance sector.
  • The European Parliament has once again pushed back the date for the full plenary session to consider the proposed Omnibus II Directive from 10-13 September to 22 October
  • A new listed ILS fund, DCG Iris, has raised £40.1mn in its initial public offering managed by Dexion Capital