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  • Up to $500mn of retrocessional capacity will be withdrawn from the market following the completion of Swiss Re’s acquisition of GE Insurance Solutions earlier this year.
  • Marsh & McLennan Companies (MMC) announced on 15 September its second major restructuring in less than two years with news that it plans to shed 750 jobs as part of cost-cutting measures that it says will produce savings of $350mn a year.
  • Omega Underwriting Holdings Plc has become the second Lloyd’s (re)insurer in a week to confirm plans to redomicile to Bermuda and the first to confirm it has received clearance from the UK authorities.
  • Bob Clements, the man who has launched a host of (re)insurers throughout a long career in the insurance industry, is looking to raise up to $1bn for Ironshore Ltd, a newly capitalised Bermudian-domiciled (re)insurance company that will specialise in provi
  • Gallagher Re announced the appointment of Kenneth King as a senior vice president on 12 September.
  • HSBC Insurance Brokers announced last week that it has set up a new US wholesale broker and managing general agency, which will trade as Intermediary Solutions, in New York.
  • Lloyd’s broker RFIB Group announced two new appointments on 11 September as it continues to expand its non-marine division internationally.
  • Chaucer Syndicates Limited, the managing agency arm of Chaucer Holdings PLC, announced today (18 September) that it has recruited an engineering team.
  • Aon Corp became the last of the big three brokers to announce that US insurance regulators have eased restrictions on them charging contingent commissions, or Placement Service Agreements (PSAs) on 8 September.
  • Giant reinsurer Swiss Re revealed last Friday (15 September) that it is looking for potential buyers for its iconic London office building the Swiss Re Tower - better known as the Gherkin.