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  • After decades of lobbying from the international (re)insurance community, one US state is spearheading new regulation that would remove collateral requirements for the highest rated foreign and non-New York reinsurers.
  • As reinsurance market practitioners gathered in the town of Baden Baden this weekend, German reinsurance giant Munich Re boldly stated that, for the 1 January 2008 renewals, it predicts markets to be "harder than expected" in certain sectors of the indust
  • Reinsurance broker Guy Carpenter & Co has announced that it has changed the name of MMC Securities to GC Securities and has expanded its investment banking capabilities in Europe.
  • US insurance giant The Chubb Corporation has received approval from the Chinese authorities to turn its Federal Insurance Company from a Shanghai branch to a wholly owned insurance subsidiary.
  • London market broker Alwen Hough Johnson Ltd (AHJ) has increased its Scandinavian presence by taking a stake in Norwegian firm Nilsen Brokers Re AS.
  • Munich Re has launched a $260mn cat bond to cover earthquake risk for the East Japan Railway Company (EJRC) in a sign that insurance linked securities (ILS) demand remains undiminished by recent credit markets turmoil.
  • The House of Lords upheld a Court of Appeal decision last week, ruling that employers are not liable to compensate employees who develop symptomless pleural plaques after exposure to asbestos.
  • A US securities-law case, currently being heard in the Supreme Court "could be the legal equivalent of Hurricane Katrina" for professional liability insurers, according to William Wilt, analyst at Morgan Stanley.
  • 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requirements for the highest rated foreign and non-New York reinsurers, stating that "we cannot afford to maintain outdated and unnecessary...