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  • AXA will have to pay compensation to world football governing body FIFA, following a ruling by a German court that the insurance company was wrong to cancel its 2002 World Cup insurance policy.
  • Equitas has completed its landmark reinsurance transaction with National Indemnity Company, part of Warren Buffett’s Berkshire Hathaway group, on 27 March.
  • Ironshore International's Pembroke Syndicate 4000 at Lloyd's is the latest insurer to try and exploit heightened demand for liability cover in the oil and gas sector, as it introduces a wide-ranging professional indemnity product for the industry.
  • Tawa plc’s share price is now 40 percent lower than its 2007 IPO price as investors responded badly to the firm’s profit slump last month on the back of continuing losses from the bond portfolio of its CX Re subsidiary...
  • Australian reinsurer QBE has bought National Farmers Union Property and Casualty Co (NFU), a small US insurer, for about $140mn in order to boost premium income.
  • Aspen Insurance Holdings – the Bermudian domiciled (re)insurer which lost three of its four underwriting heads this summer – revealed plans to leverage its balance sheet earlier this month with a $200mn hybrid offering and details of a share buy-back.
  • Lloyd's based (re)insurer Amlin plc) that its Bermudian reinsurance operation has written $87mn of business this year, a 58 percent increase on the same point last year.
  • Lloyd’s revealed that it is now authorised to trade in 72 territories worldwide following the enlargement of the European Union on 1 May.
  • Allianz's US P&C subsidiary, Fireman's Fund Insurance Company, is to increase its asbestos and environmental risk (A&E) reserves by $301mn following a review of their adequacy.
  • An arbitration panel has ruled in favour of Realm National, Stirling Cooke Brown's C++ rated property and casualty reinsurer, in its dispute with John Hancock over a workers' compensation carve out reinsurance.