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  • Provisional liquidator Grant Thornton last month announced creditor approval for its proposed UIC Insurance Company Limited scheme of arrangement that looks set to boast the rare distinction of paying out more than 100p in the £1.
  • Despite paying over $1bn in settlements and foregoing contingent commissions, the post-Spitzer picture is still not “rosy” for the big three brokers, according to a report by ratings agency Standard & Poor’s (S&P).
  • Price Forbes Ltd, the London-based international wholesale operation owned by Marsh & McLennan Companies Inc, has been spun-out of the broking giant via a management buy-out, The Insurance Insider revealed on 21 September.
  • Despite the growing popularity of sidecars, executives in the London market are not convinced about their merits, according to findings by PricewaterhouseCoopers (PwC) for its 2006 London Insurance Market survey.
  • Review recommends freeing up of agency agreement and sidecar-style Names’ syndicates Lloyd’s has unveiled plans to overhaul its annual venture in a bid to tackle complaints that its current structure adds costs and restricts management flexibility.
  • But dollar fluctuations continue to deliver mixed results to bottom line figures
  • Leading brokers Marsh and Aon have highlighted concerns over a rapidly softening UK professional indemnity (PI) market.
  • Up to $500mn of retrocessional capacity will be withdrawn from the market following the completion of Swiss Re’s acquisition of GE Insurance Solutions earlier this year.
  • The French investment bank IXIS is raising funds to float a new $1bn company on London’s Alternative Investment Market (AIM) to invest in the burgeoning insurance-linked securities sector.
  • This month, The Insurance Insider has two reasons to celebrate. It is not only our 100th issue – a feat in itself – but also ten years since the publication was born.