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  • CIGNA & Lincoln National take charges after arbitration ruling hits pool members The long awaited outcome of the arbitration between Unicover pool participants and their retrocessionaires ended on the 9 October 2002 with a settlement in favour of the
  • State-owned reinsurer China Re has opened a representative office in London.
  • Bermudian property cat specialist Montpelier Re said it estimates pre-tax net losses from the Japanese earthquake and tsunami of around $126mn.
  • Derivatives platform Insurance Futures Exchange Services (IFEX) which began trading in US catastrophe risks as futures contracts in September, now has cumulative trading volumes totalling more than $31mn...
  • The staff-poaching dispute between UIB and Marsh is to be heard before the Commercial Court on 30 June.
  • Lloyd’s managing agency AEGIS announced last week the appointment of Stuart Davies as managing director of its energy Syndicate 1225, tasked with driving through its development as a lead underwriter in both onshore and offshore energy.
  • SCOR has stepped up its takeover approach for rival Converium by formally pre-announcing a public tender offer for the remaining shares in the company.
  • American International Group (AIG) has confirmed reports that former CEO Martin Sullivan will receive a $47mn severance package after officially stepping down from his post.
  • The value of fines handed down by UK financial services supervisor the FSA in 2009 jumped 53 percent on 2008 (to Dec 31) to a record-breaking £34.8m, according to London law firm Reynolds Porter Chamberlain (RPC).
  • RenaissanceRe affiliate DaVinci Re suffered $152.9mn of net cat losses in the first quarter, turning in a combined ratio of 246.3 percent, according to Moody's