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  • Insurance Australia Group’s determination to buy UK motor insurer Equity led to the firm paying around 10 percent more than it had initially bid, The Insurance Insider can reveal.
  • A softening market and investor pressure could kick start long awaited M&A activity
  • David Foreman, the former underwriting chief at Lloyd’s insurer Wellington Underwriting, has teamed up with a duo of defectors from Aspen Insurance Holdings Ltd in a bid to launch a new London market (re)insurer, according to sources.
  • Deutsche Bank's repackaging of Aspen's recoverables becomes the latest capital markets transaction with the reinsurance industry
  • The EU needs to engage with more companies as it consults about the implementation of Solvency II the proposed new capital requirements for insurers across the EU, according to financial services company Deloitte.
  • Numis Securities analyst Nick Johnson has re-iterated his Sell rating on the stock of UK broker Jardine Lloyd Thompson plc citing concerns over the weak dollar and a poor trading environment hitting the company’s earnings.
  • Zurich American Insurance Co has finalised its settlements with 11 states, as well as the District of Columbia, resolving allegations of bid rigging, price fixing and misuse of finite risk products.
  • Following the close of the benign 2006 North Atlantic hurricane season at the end of November, Bermudian reinsurers are anticipating reaping record profits, according to the latest Benfield Bermuda Quarterly (BBQ) report.
  • Atrium Underwriting became the latest Lloyd’s (re)insurer to release an upbeat trading statement on 7 December, including an improvement on its 2004 year of account.
  • Advent Capital Holdings has become the latest Lloyd’s (re)insurer to unveil plans for a Bermudian platform, Advent Re, which will write retrocessional business.