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  • On the eve of publication of the European Commission (EC) Solvency II directive, (re)insurance groups and niche players are set to benefit from the proposed capital changes, but mid-sized, generalist companies may lose out, according to accounting firm P
  • Bermudian firm Aspen Insurance Holdings is to enter the Professional Liability Insurance market later this year through its UK operation.
  • Last week saw the launch of renewable energy underwriting initiatives by Lloyd’s insurer Ascot Underwriting, and ACE European Group in anticipation of growth in the alternative energy sector.
  • Lloyd’s members’ agent Hampden Agencies Ltd is set to derail the proposed merger of AIM-listed insurer Heritage Underwriting Agency plc’s syndicates, after it recommended that Names reject the plan.
  • Insurers are electing to retain more risk, which is fuelling greater competition among reinsurers, according to Willis Re’s review of the mid-year renewals published last week.
  • Relations between Catlin Group Ltd and AM Best appear to have thawed with the Bermuda-headquartered (re)insurer welcoming the agency’s move to assign ratings to its US admitted lines operation, and upgrade Catlin Specialty Insurance Company (CSIC).
  • Sagicor joined its Caribbean rival Guardian Holdings Ltd in having a Lloyd’s presence after it acquired Gerling at Lloyd’s, and its Syndicate 1206, last week.
  • Accountancy firm Price Waterhouse Coopers (PwC) has settled a lawsuit for $225mn with fraud-riddled manufacturing conglomerate Tyco International, over claims that it ignored fraud committed by top executives at the firm.
  • Hannover Re is to open a branch office in Bahrain to support the (re)takaful business it opened in the kingdom last year.
  • Companies who think more astutely about managing their risk exposures will reduce the volatility in the cost of financing risk, according to a report by broker Marsh.