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  • “Class of 2005” reinsurer Flagstone Re has been given the green light for its Middle Eastern operation, which will be based in Dubai.
  • German reinsurer Munich Re has called for more risk awareness and transparency in terms of loss potentials and liabilities in the world’s largest cities.
  • Hiscox has named a successor to Rob Childs as chief executive of its Bermudian subsidiary with the appointment of Charles Dupplin, currently chairman of the Lloyd’s insurer’s Art and Private Client division and director of Mergers and Acquisitions
  • The Joint Hull Committee, a London market initiative representing hull underwriters from Lloyd’s and the companies market, has begun a review of the International Hull clauses launched last November.
  • Share prices in Lloyd's (re)insurers have fallen sharply in response to the explosions which rocked London this morning.
  • The positive first quarter for Bermudian reinsurers continued when RenaissanceRe posted a record net operating income of $195.7mn, or $2.73 per share, up from $54.5mn, or $0.76 per share last year.
  • The European windstorm Kyrill may trigger Munich Re’s EUR110mn cat bond, Aiolos, as the reinsurer announced last week that its losses from the storm may be in the region of EUR600mn.
  • Bermudian Arch has become the latest (re)insurer to enter into a sidecar arrangement following the establishment of Flatiron Re, which has itself become the first vehicle of its kind to be rated by Standard & Poor’s (S&P).
  • Supporters of UK solvent schemes of arrangement were encouraged by a Scottish Court’s decision to sanction the M&G Re scheme last Thursday (1 September).
  • The Barlow Lyde & Gilbert’s (BLG) commercial litigation team that worked on the defence of Equitable Life’s £2.6bn claim against Ernst & Young is leaving the firm to join rivals Mayer Brown.