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  • Bermuda and Switzerland - favoured domiciles for many international (re)insurers - are first on European regulators' list for consideration to grant Solvency II equivalence to non-EU countries.
  • The London market's first fully paperless claim settlement has been completed between reinsurance broker Guy Carpenter and Lloyd’s insurer Amlin.
  • The US Securities and Exchange Commission (SEC) has filed a subpoena enforcement action against Wells Fargo after the US bank failed to produce all documents relating to a $60bn fraud probe.
  • Broker aggregator Towergate Partnership has secured £200mn of backing from private equity firm Advent International as it looks to manage its heavy debt burden
  • Marsh & McLennan Companies (MMC) saw group revenues fall 13 percent but operating margins significantly improve in its Risk and Insurance Services (RIS) division, as its recent cost-cutting drive appears to have borne fruit.
  • UK insurer Brit Insurance Holdings plc has said that it achieved 100 percent contract certainty on its 1 January 2007 outwards non-proportional reinsurance placements by the end of 2006.
  • Reserving deficiencies at Lloyd's (re)insurer Hardy added 17.4 points to the firm's 36.5 percent accident-year loss ratio, while net income at parent company CNA grew by 17 percent to $194mn.
  • London-headquartered aviation pool Global Aerospace is the lead underwriter on the JLT-placed programme purchased by Indonesian airline Lion Air, which suffered the total loss of a Boeing 737-800 on 13 April, The Insurance Insider can reveal.
  • Stuart Shipperlee, the managing director of AM Best Europe, has resigned from the rating agency and is set to return to his former employer, Standard & Poor’s.
  • Lloyd’s opens Brazil office; Mitsui Sumitomo branches out to Eastern Europe; Beazley completes acquisition of First State...