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  • Brit CEO Dane Douetil will step down from his role as the head of the group driving London market process reform at the end of the year, he announced at an Insurance Institute of London lecture today (18 October).
  • New York insurance superintendent, Eric Dinallo, is spearheading new regulation that would remove collateral requirements for the highest rated foreign and non-New York reinsurers, stating that "we cannot afford to maintain outdated and unnecessary...
  • A US court has ruled that there was "misappropriation of Gen Re trade secrets" in connection with the defection of a team of the reinsurer's senior facultative (fac) executives to Arch Capital Group in April.
  • Analysts have reacted cautiously to Munich Re's $1.3bn planned purchase of US primary insurer The Midland Company (Midland).
  • Munich Re has launched a $260mn cat bond to cover earthquake risk for the East Japan Railway Company (EJRC), the first significant issue since the beginning of August
  • New market entrants are “critical to maintaining the attractiveness of the Lloyd’s market”, according to the Society’s Franchise Performance Director, Rolf Tolle.
  • The London market has missed its 60 percent third quarter target for usage of electronic claims files (ECF) by 15 percentage points, making the year-end target of 100 percent "more challenging", said the Market Reform Group (MRG) in a statement today.
  • Legacy business purchaser Ruxley Ventures has been given the green light to acquire the London branch of Italian giant Generali’s Swiss subsidiary, Generali Assurances Generale (GAG).
  • The UK’s non-life run-off liabilities decreased 14 percent last year while Lloyd’s open year liabilities were down by more than 30 percent, according to the Association of Run-Off Companies’s (ARC)’s most recent survey.
  • “Class of 2005” reinsurer Flagstone Re has been given the green light for its Middle Eastern operation, which will be based in Dubai.