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  • Munich Re said its pre-tax losses from the European Windstorm Kyrill will be around EUR600mn and estimated the overall market loss at EUR5-7bn.
  • Bank of America has launched a Lloyd's syndicate specialising in writing long-tail lines, our sister title The Insurance Insider revealed this morning (29 January).
  • Benfield Group has appointed Jeremy Goodman to a senior position in its facultative business, as it attempts to fill the void left by the high-profile defection of Elliot Richardson and a number of his team to rival Aon last September.
  • David Margrett, the former group chief executive of Heath Lambert, is to take over as chairman and CEO of Willis Ltd, the broker’s UK operation.
  • Swiss Re expects its net losses from the European windstorm Kyrill to be around EUR140mn and gave an overall loss estimate for the industry at the lower end of predictions.
  • The specialty insurance group Markel Corporation was fast out of the traps yesterday with its 2006 results that saw the group’s combined ratio fall from 101 percent in 2005 to a mere 87 percent.
  • After a year-and-a-half long investigation, the European Commissioner for Competition Neelie Kroes has published her preliminary findings into business insurance which raise a number of concerns including "potential conflicts of interest" amongst brokers.
  • UK regulator the Financial Services Authority (FSA) said today (24 January) that it believes the insurance industry has met the challenge to achieve a solution to contract certainty in the UK.
  • Despite losses estimated as high as EUR8bn, Europe’s (re)insurers are unlikely to see any rating downgrades from the windstorm Kyrill, according to Fitch Ratings Agency.
  • Share prices of Bermudian and Lloyd’s (re)insurers fell following the passage of a bill on Monday (22 January) that will see significant state intervention in the Florida insurance market and take an estimated $4bn premium ou