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  • Recent hopes for the resurrection of plans for US asbestos tort reform appear to have run aground after a revised bill failed to get the required number of votes to be put forward for consideration in the Senate.
  • The expansion into Continental Europe by Lloyd’s insurer Liberty Syndicates was boosted last week with the launch of a service company which will help it target new reinsurance business.
  • US regulators turn attention to insurance brokers over the growing practice of charging volume commissions
  • Novae Underwriting, the recently launched liability operation of Lloyd’s insurer SVB, announced the appointment of two leading professional indemnity (PI) underwriters last week.
  • The rating of Sirius International - the Swedish insurer recently acquired from ABB by the White Mountains Insurance Group – is under review by AM Best.
  • French reinsurer revealed last week that it has applied for a licence with the China Insurance Regulatory Commission (CIRC) to write reinsurance business in China.
  • Ratings agency Standard & Poor’s (S&P) announced last Thursday (15 April 2004) that it will hold its negative outlook on the global reinsurance industry, voicing concerns over the potential for further development of prior-year reserves in the coming year
  • Royal & Sun Alliance’s strategic move to lose its non-core international operations may extend to its Scandinavian arm – despite only last year saying the area was one of its three areas which it would focus on.
  • Claims management and outsourcing firm Xchanging is in negotiations with Deutsche Bank to take over the handling of its back office securities clearing processes.
  • WTC leaseholder Silverstein Properties and insurers led by reinsurance giant Swiss Re are litigating over which contractual wordings the various parties used in placing the building’s insurance cover.