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  • Omega Underwriting Agents Ltd is also set to launch a new syndicate as it puts the finishing touches to a capital raising initiative that will almost double its capacity.
  • UK insurance group Royal & Sun Alliance (R&SA) has announced the sale of its Pakistan based business to the International General Insurance Company of Pakistan Limited for a consideration of around £700,000 to be paid in cash.
  • The last scene of the great Lloyd's tragicomedy is being played out in the Commercial Court before Mr Justice Cresswell. 220 Names are seeking to avoid pursuit by Lloyd's for debt by suing the Society for fraudulent misrepresentation.
  • Lloyd’s insurer Amlin last week announced the acquisition of UK retail yacht insurance broker SM Marine Holdings Limited.
  • 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
  • Environmental services company EnPro Industries has announced a $118mn “comprehensive agreement” with Lloyd’s reinsurer-of-last-resort Equitas in relation to its asbestos exposures.
  • Lloyd's has announced the appointment of a full-time representative to work with the Spanish insurance market.
  • Fraud is now big business. The Government estimates that fraudulent scams now cost the UK economy £16bn a year - £650 for every household in the country. The first six months of last year saw a six fold increase in the value of charges brought for major r
  • Australian insurer QBE announced last week that it would buy the remaining 50 percent of Mercantile Mutual from its joint venture partner ING in a bid to increase market share in a strongly performing Australian insurance market.
  • St Paul, one of the giant corporate capital providers to Lloyd's thought to be cooling about its involvement in the market, will not renew its reinsurance of the Central Fund when the policy expires next year.