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  • Ratings agency Standard & Poor's (S&P) has lowered its counterparty credit ratings on global financial services firm Marsh & McLennan Cos (MMC) to BBB- from BBB, with a stable outlook.
  • UK-listed Jardine Lloyd Thompson Group plc (JLT) announced on 18 May that it has become the latest Western broker to receive approval from regulators for a Chinese (re)insurance broking operation.
  • Lloyd's has sounded a warning over cycle management, with CEO Richard Ward demanding a "clear strategy" from the market to enable it to "maintain discipline and strength in the face of increasing competition".
  • The merger of R J Kiln managed Lloyd's syndicates 510 and 807 has been approved by Lloyd's with effect from the commencement of the 2012 year of account.
  • The Insurance Insider has learnt that Brian Jackson, active underwriter on up-for-sale St Paul Syndicate 779, is in advanced negotiations for a deal that would see business novate to Lloyd's managing agency Jubilee.
  • Swiss Re’s newly formed Luxembourg hub has received an AA- rating by Standard & Poor’s.
  • Reliance National Insurance received High Court approval for its solvent scheme of arrangement last Friday (20 October) as the proposal passed unopposed.
  • Allianz’s head of UK aviation business, Emilio Di Silvio, has parted company with the insurance giant, and is set to head a new aviation syndicate at QBE’s Limit. Di Silvio – who has more than 29 years of aviation underwriting experience – resigned...
  • Munich Re is pushing a $10bn climate insurance pool scheme for inclusion in the final Copenhagen Document due to emerge from the United Nations Climate Change Conference.
  • Marsh will enter into a long-term strategic distribution deal with HSBC as part of its agreement to buy the banking giant's insurance broking arm.