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September 2014/3

  • The National Bank of Ukraine has granted the first licence permitting a domestic insurer to post collateral in a bank outside of the Central and Eastern Europe (CEE) region.
  • XL Group has hired Henry Williams, a senior property facultative underwriter at Berkshire Hathaway subsidiary Gen Re, sister publication Inside FAC has revealed.
  • Lloyd's aviation insurers have been warned to scrutinise their reinsurance programmes to ensure they dovetail with their gross underwriting exposures following the spate of airline and aviation war losses in the past 12 months.
  • Weekly share price data on The Insurance Insider's universe of P&C (re)insurers
  • The share price performance of our P&C (re)insurance index The Insider 30 remained on positive ground last week, rising 1.08 percent during the period.
  • A Prudential Regulation Authority (PRA) consultation paper that proposes a solution for firms in breach of Solvency II’s stringent new solvency requirement could ease the burden on run-off firms. Normal 0 false
  • Hedge fund backing for lawyers representing plaintiffs in class action suits and other civil litigation could drive up claims costs, Swiss Re's chief economist has warned.24
  • The market for European run-off has grown by EUR7bn in the past year alone, a study by professional services firm PricewaterhouseCoopers (PwC) has found.
  • European insurers will be subject to extra value-added sales tax charges, which could cost hundreds of millions of pounds in the UK alone, following a ruling from the European Court of Justice (ECJ) last week (17 September).
  • London market technology contracting entity the Placing Platform Ltd (PPL) board has a "one-off" chance to create a single electronic placing platform for the London market, according to a communication seen by The Insurance Insider.
  • The US Treasury is considering tightening up its regulation of hedge fund-backed reinsurers following calls from lawmakers to address alleged tax avoidance.
  • The New York State Department of Financial Services (DFS) has issued a list of requirements to Nasdaq-listed insurer AmTrust following the approval of ACP Re's merger with Tower Group, a Securities and Exchange Commission document revealed last week (16 September).