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  • Lloyd’s confirmed on 3 February that it will pursue legal action against Benfield and Aon, the two brokers who placed the £500mn Central Fund insurance contract which failed to engage following an arbitration decision last year.
  • Swiss Re - the world's largest reinsurer - will lose 2000 jobs following its acquisition of GE Insurance Solutions. The reinsurer said it has already reduced 250 positions, many at “management level”.
  • Lloyd’s is being sued for allegedly underwriting ships used in the slave trade, it emerged today.
  • Insurance claims from Cyclone Larry, which struck north-eastern Australia on 20 March, reached AUS$90mn last week with 4,000 claims already made, according to the Insurance Disaster Response Organisation (IDRO).
  • UK general insurer Royal & Sun Alliance (R&SA) announced first quarter pre-tax profits of £122mn, unchanged from the corresponding period of 2005.
  • Lloyd’s confirmed last week that it will pursue legal action against Benfield and Aon, the two brokers who placed the £500mn Central Fund insurance contract which failed to engage following an arbitration decision last year.
  • German insurer Allianz blamed increasing business interruption claims as it increased its estimated net exposures to the WTC attacks.
  • Lloyd’s confirmed today (3 February) that it will pursue legal action against Benfield and Aon, the two brokers who placed the £500mn Central Fund insurance contract which failed to engage following an arbitration decision last year.
  • Lloyd’s has announced that Philip Lader, formerly US ambassador to the United Kingdom, will join the Lloyd’s Council as a nominated member.
  • The premium income of the four major European reinsurers grew by 2 percent in aggregate following this year’s renewals season, according to research from brokers Benfield.