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  • AM Best has assigned an A- rating to Max Specialty Insurance Company, the recently launched excess and surplus lines operation of Bermudian Max Re Capital.
  • European insurance trade body the Comité Européen des Assurances (CEA) has urged the European Commission (EC) to retain the industry’s block exemption from certain anti-competition rules, arguing it actually promotes competition.
  • The Bermuda Monetary Authority (BMA), the island's financial regulator, has appointed a new chief executive to begin in July, the body said last week.
  • Charlie Crist, the Florida governor behind far-reaching reform in the state’s hurricane catastrophe fund earlier this year, has run into opposition from the White House over proposals for a federal catastrophe insurance programme.
  • Bermudian (re)insurer Allied World Assurance Company has made a $2.1mn settlement with the Texas attorney general Greg Abbott over his investigation into bid-rigging by the firm.
  • Three Lloyd’s (re)insurers are building operations in Shanghai as part of Lloyd’s new Chinese reinsurance operation.
  • Xchanging, the outsourcing firm that runs the London market’s back office, has announced a tie-up with Web Connectivity for its Insurers’ Market Repository (IMR) Gateway service.
  • This year's North Atlantic hurricane season will provide a "litmus test" for the (re)insurance industry's ability to adapt, according to Fitch Ratings.
  • Reports published in the last week have again warned the insurance industry to expect increased financial losses as weather-related catastrophes worsen as a result of climate change.
  • AXA, the French insurance giant, is set to confirm another UK broker acquisition with its swoop for the private equity backed Smart & Cook, according to reports.