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  • Lloyd’s (re)insurer Chaucer has written to Names increasing the offer for unaligned 2004 capacity on its proposed merged Syndicate 1084 from 7.5p to 11p per £1.
  • Giant German Munich Re has become the first international reinsurer to receive a nationwide composite operating license in China as penetration into the tightly controlled domestic market gathers pace.
  • Bermudian (re)insurer XL Capital has announced today the completion of a $500mn capital markets transaction.
  • The drive for meaningful asbestos reform in the US took a big step forward last Thursday as the Senate Judiciary Committee marginally voted in favour of Senator Orrin Hatch’s Fairness in Asbestos Resolution Act.
  • Troubled UK liability insurer The Underwriter has announced that it has gone into “solvent run-off” and, as of last Friday (11 July), will no longer write new business. The decision comes as a result of an FSA review into the company’s parlous capital sit
  • In the wake of GoshawK’s 3 July mea culpa profits warning, the rating agency AM Best have downgraded the Lloyd’s insurer’s Syndicate 102 from A (excellent) to A- (excellent).
  • Trenwick Managing Agency announced last week that it had stopped writing aviation business “with immediate effect”. The firm, which is set to announce a management buyout from its distressed parent Trenwick International later this week, explained in a ma
  • Victims of deep vein thrombosis (DVT) lost a landmark appeal last Thursday as a December 2002 High Court ruling was upheld, preventing claimants from suing airlines for compensation.
  • With the Senate Judiciary Committee in recess over the 4 July break, hopes for successful passage of Senator Orrin Hatch’s Fairness in Asbestos Resolution Act were dealt a blow last Thursday as insurers threatened to withdraw from the initiative to set up
  • Alphastar – the firm formerly known as Stirling Cooke Brown (SCB) – has until the end of this week to file overdue financials or face delisting from Nasdaq.