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  • The hard-pressed airline market showed signs of recovery at the 1 April renewals with rates rising by as much as 10 percent on some major airline accounts, according to underwriting sources.
  • The UK’s second largest general insurer Brit Insurance Holdings Plc has bolstered its casualty arm by appointing four new underwriters, including former Limit director Peter Battle.
  • July saw a marked increase in US securities suits filings, suggesting that the sharp drop in activity in the second quarter may have been merely a temporary reprieve for D&O/E&O insurers.
  • Swiss Re has put its UK run-off unit Pro Insurance Solutions (Pro) up for tender following the breakdown of sale talks with Randall & Quilter (R&Q) last month.
  • Catastrophe risk modelling firm Eqecat estimates that insured losses from several recent earthquakes in Italy - including two tremors on Tuesday (29 May) - may reach EUR300mn-EUR700mn ($375-$875mn)
  • New York Attorney General Andrew Cuomo has filed a suit against Ernst & Young (E&Y) alleging that the "big four" accountancy firm assisted collapsed bank Lehman Brothers in defrauding its shareholders.
  • Catlin Group has named former Swiss Re chief investment officer Benjamin Meuli as incoming CFO to replace Christopher Stooke, who is set to leave the (re)insurer later this year.
  • The acquisitive Australian insurer IAG has agreed a £570mn deal to buy UK motor underwriter and broker Equity Insurance Group, 18 months after the company was taken private in an £298mn private-equity backed management buy-out.
  • Marsh UK is set to join rival Aon in formally agreeing a proposed framework for its new broking model with the Beazley Working Party, The Insurance Insider can reveal.
  • Talbot Underwriting Ltd is to enter two new classes of business as it becomes the latest Lloyd’s insurer to announce an increase in capacity for the 2007 year, with its Syndicate 1183 up 6 percent to £325mn.