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  • German reinsurer Hannover Re has sold its US subsidiary Praetorian Financial Group for $800mn to Australia’s QBE Insurance Group Ltd.
  • UK regulator the Financial Services Authority (FSA) has written to chief executives of brokers highlighting their responsibility to disclose commissions when requested by clients, in compliance with its Insurance Conduct of Business (ICOB) rules.
  • A trial date of January 2008 has been set to hear Lloyd’s case against Benfield and Aon, the two brokers who placed the £500mn Central Fund insurance contract that failed to engage following an arbitration decision last year.
  • Our monthly column keeping check on US and EU legal and regulatory developments
  • Aon Ltd has slashed the number of placements where it continues to collect fees on behalf of London market insurers.
  • Perhaps demonstrating the capital market's restraint over supporting new reinsurance ventures, a trio of start-ups in the sector that were mooted to list on the London Stock Exchange's Alternative Investment Market (AIM) have been withdrawn. 
  • The International Underwriting Association (IUA) has welcomed progress on the issue of US collateral requirements for so-called “alien reinsurers” that has seen the National Association of Insurance Commissioners (NAIC) vote to re-evaluate its measurement
  • Guy Hengesbaugh, who quit as COO of beleaguered Bermudian PXRE in April, is close to making an early return to the market with a US property cat focussed start-up on the island, The Insurance Insider can reveal.
  • Deutsche Bank's repackaging of Aspen's recoverables becomes the latest capital markets transaction with the reinsurance industry
  • Barclays Bank reinstated as Enron defendant; Aon gains $800mn from spin-offs; Willis loses senior figure as Colraine steps down; Scottish Re boosted by investment; AWAC adds Lloyd’s presence...