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  • Delegates at the Risk & Insurance Management Society (RIMS) conference in Philadelphia last week were warned of spiralling costs of terrorism coverage if the Terrorism Risk Insurance Act (TRIA) is not extended.
  • Giant US IT provider IBM is to make its entry into the London market this year with the release of a system that will facilitate electronic risk placement.
  • Lost and found cargo ship Arctic Sea is insured for crew-related risks with Russian insurer Ingosstrakh.
  • US specialty insurer WR Berkley's specialist underwriting unit, Berkley Oil & Gas, has signed up a Dallas managing general underwriter, JH Blades & Co/Swett & Crawford (Blades/Swett), to underwrite control of well, general liability and umbrella insurance on its behalf.
  • Trading risk platform Insurance Futures Exchange Services (IFEX) is to facilitate margin trading during the North Atlantic wind season - in a move that may encourage greater activity on the derivative exchange.
  • Results published by privately owned Hyperion Insurance Group show the firm has expanded its revenues by 26 percent to £72.2mn for the year ending 30 September 2010
  • Listed Bermudian-headquartered legacy firm Enstar Group has acquired AMP Ltd’s Australian-based closed (re)insurance operations for A$585mn ($518mn).
  • Investment banks Morgan Stanley and Lehman Bros revealed the extent that they have suffered from the sub-prime crisis in the third quarter results last week.
  • Fairfax Financial Holdings became the latest international (re)insurance group to take a controlling stake in a Lloyd's managing agency after buying out a major shareholder in its long-term partner Advent Capital Holdings plc.
  • Private equity-backed Lloyd's insurer Ark is continuing its expansion plans with new hires and the capture of a Bermudian treaty book that it will migrate to London next year, The Insurance Insider can reveal.