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  • US insurer St Paul Travelers is to terminate the payment of contingent commissions to brokers by the end of the year, according to Connecticut attorney general Richard Blumenthal.
  • The new Bermudian reinsurer Aeolus Ltd has doubled its capital to more than $1bn following a second fund raising.
  • Plummeting rates during last year's airline renewals have left the market close to its "burning cost" where it could struggle to turn a profit.
  • JK Buckenham, Hyperion Insurance Group’s reinsurance broking arm, announced the arrival of former BMS International executive Ian Smith, last week.
  • Japanese insurer Mitsui Sumitomo Insurance (MSI) confirmed last week it had taken over management of its Syndicate 3210 from Lloyd’s insurer Chaucer Holdings Plc (Chaucer).
  • UK insurer Brit Insurance Holdings plc has said that it achieved 100 percent contract certainty on its 1 January 2007 outwards non-proportional reinsurance placements by the end of 2006.
  • Stockbroker Shore Capital has upgraded its 2006 forecasts on Hardy Underwriting following the benign hurricane season as it expects the Lloyd’s insurer to cash in on its strategy to underwrite US catastrophe exposed business without reinsurance protection
  • Around 80 percent of claims, estimated to total $32bn, arising from hurricanes Katrina, Rita and Wilma remain unpaid, according to Charlie Cantlay deputy chairman of Aon Re UK.
  • The exit of former Wellington Underwriting staff following the company’s £600mn takeover by Catlin Group has continued with the departure of its two senior aviation underwriters.
  • French giant AXA announced late Thursday (5 January) it has agreed a deal to sell the US operations of its recent acquisition Winterthur to QBE Insurance Group for total consideration of $1.8bn.