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  • According to the International Underwriting Association (IUA), most London Market (re)insurers are in a position to prove their eligibility for exemption from Federal Excise Tax (FET) as required by a recently imposed UK/US Tax Treaty.
  • Karel Van Hulle, head of insurance and pensions unit at the European Commission and responsible for the preparation of the Solvency II regulation has said that the deadline for implementation of the regulation will be pushed back by two years to 2012.
  • Moody's has downgraded its continuity opinion of Kiln's catastrophe Syndicate 557 to reflect the depressed rate of return that Lloyd's Names can expect due to its high capital requirements.
  • The sale of German state-owned run-off group BF Rückversicherung has taken a further twist following news that the joint bid by GLOBAL Rück and Randall & Quilter (R&Q) is no longer being actively considered, The Insurance Insider can reveal.
  • Sagicor at Lloyd's (SAL) announced today (4 September) that it has expanded both the liability and credit, bond and political risk teams in its Syndicate 1206
  • Bermudian (re)insurer Endurance has promoted David Bigley to head of US property cat reinsurance as part of a wider reorganisation within the business line
  • Silverstein and Swiss Re posturing continues but patience wears thin The war of words between parties in the World Trade Center (WTC) insurance dispute continues to rage, despite the growing clamour for resolution of costly legal proceedings that conti
  • New York City officials has offered a $658mn settlement to thousands of workers who became ill from rescue and clean-up work after the 2001 World Trade Center attacks.
  • The landmark scheme of arrangement for Orion Insurance Company and The London and Overseas Insurance Company Ltd will be sent to the Financial Services Authority for consideration by 31 July, according to its administrators PricewaterhouseCoopers (PwC).
  • American International Group (AIG) has been repaid $5bn in equity that it placed into a bailout fund set up to rescue the insurer during the nadir of the financial crisis in 2008