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  • The New York insurance authorities are considering the innovative approach of putting the liquidation of Midland Insurance Company out to tender in a bid to improve the returns available to policyholders.
  • WR Berkley confirmed the hire of a financial institutions (FI) team from American International Group (AIG), as previously revealed by The Insurance Insider.
  • Ratings agency Moody's has said it does not expect the introduction of the EU's Solvency II regulation to cause widespread ratings actions.
  • Willis will shortly discover whether its role as an adviser to the Stanford Financial Group will result in a formal class action.
  • Rating agency Standard & Poor’s (S&P) last night (12 June) confirmed that Swiss Re’s acquisition of GE Insurance Solutions (GEIS) has cost the reinsurer its AA rating, which has been downgraded a notch to AA-.
  • Bermudian ACE's London market operation has poached Kiln underwriters Mark Adams and Richard Bayman to bolster ranks in its aviation division.
  • User-pays was heavily criticised. Lloyd’s insists that the process has been reformed but Laptop argues there is still much to be done In December 1997 Lloyd's announced the introduction of “User Pays”. One of the aims was to remove “the subsidisation
  • Willis chairman and chief executive Joe Plumeri will sell 2,350,000 shares of the company’s common stock beginning in June, the broker announced last week. As at noon on 9 May, 2005, Willis shares were trading at $35.24 so barring any significant...
  • Flagstone Re has preannounced further creep on loss estimates for cat events in the first half of 2011 that will deliver a hit to its Q4 financials of $50mn to $55mn when it reports later this month.
  • Former Aviva Group executive Patrick Snowball has been appointed as CEO of Australian financial services group Suncorp-Metway, effective 1 September.