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  • There was an interesting insight into the Royal Courts of Justice dispute between oil giant BP and Swiss Re, AIG, AXA, ACE, Aegis and other international insurers this week with the publication of Justice Colman’s reasons for denying summary judgment in t
  • Lloyd’s chairman issues “warning and a plea” to global leaders to maintain rates The insurance industry cannot afford to allow rates to prematurely soften, Lloyd’s chairman Lord Levene has warned.
  • Fast growing Bermudian post-9/11 start-up AXIS capital saw its new European headquarters officially opened in Dublin last Wednesday (8 July) by Irish finance minister Charlie McCreevy TD.
  • Ratings agency Standard & Poor's (S&P) has raised its long-term counterparty credit and insurer financial strength ratings on Allianz Ireland and Allianz Corporate Ireland (collectively Allianz Ireland) to “BBB” from “BBB-“, with a stable outlook on both
  • Fitch Ratings announced it is maintaining its Positive outlook on the non-life sector in France, despite the coming downturn in the market and warnings of a looming price war.
  • The American Insurance Association (AIA) has said there is strong bipartisan support for a prolonged life-span for the US Terrorism Risk Insurance Act of 2002 (TRIA).
  • The asset drain continues at Marsh & McLennan’s troubled investment management arm Putnam, according to latest figures and analysis from equity analysts at Morgan Stanley.
  • Lloyd’s defeats Florida Marlins in controversial claims Lloyd’s insurers have successfully disputed a $7.7mn PA claim from the US baseball champions Florida Marlins following a protracted legal battle.
  • SCOR’s EUR180mn 4.125 percent senior unsecured “OCEANE” bond has been assigned a “BB” rating by Fitch, matching the French reinsurer’s long-term rating.
  • Ratings agencies responded rapidly to last Tuesday’s (29 June) news that Germany’s Gothaer Group has decided to run-off its reinsurance arm Gothaer Re, merging it with holding company and 70 percent shareholder Gothaer Finanzholding.