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Friday, April 12, 2013

Reinsurance Coalition Slams White House Proposal to End Tax Breaks for Foreign Affiliates

Reinsurance taxRepresentatives of the reinsurance industry have come out against a White House proposal to end tax breaks on premiums paid to affiliates domiciled outside the United States, saying the "protectionist" tax policy would limit capacity and drive up the cost of insurance.

President Barack Oba...

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Sources: Sale of Insurance Broker HUB International Considered

HUB potential saleApax Partners and the private equity arm of Morgan Stanley are reportedly looking to sell US insurance broker Hub International in a deal which could value the business at $2bn.

The pair picked up Chicago-based Hub in a $1.8bn deal in February 2007, backing it with about $1.7bn of equity and ...

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Conning: P/C Industry Forecast through 2015: Industry Results Showing Significant Improvement, Challenges to Profitability Continue

ConningWith 2012 preliminary results now showing the effects of sustained improvement in profitability, Conning forecasts continued strong net premium growth and a substantially improved combined ratio for 2013.  The forecast improvement is based on sustained pricing increases and an expectation of a normal l...

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Hartford Declares Run-Off Unit "Self-Sufficient"

The HartfordHartford Financial Services Group Inc. (HIG) said it was taking a $600 million charge in the first quarter to ensure that a once-troubled book of annuities it sold in Japan was safely hedged against future volatility that could hurt results.

The insurer said it had expanded an already elabo...

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White House Budget Aims to Boost Enforcement of Labor Laws

White House Budget Labor LawThe Obama administration is requesting $12.1 billion to fund the Labor Department's discretionary spending, an increase of more than $20 million from the comparable 2012 level, in a proposal that seeks to strengthen

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One-Off Data Exchange Solutions Costly and Error-Prone, Notes E&S Joint Working Group

E&S GroupData exchange between excess and surplus lines wholesalers and carriers is difficult and expensive. This has to change if the industry is going to grow and successfully meet changing...

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Willis Teams with Presage to Launch Next Generation of Workplace Safety and Enterprise Behavioral Risk Management

WillisA new strategic partnership between Willis Group Holdings plc, the global risk advisor and insurance broker, and Presage, a pioneer in Enterprise Behavioral Risk Management (EBRM), will help firms unlock powerful loss prevention strategies through a proprietary combination of behavioral psychology and predictive analytic...

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Munich Re Supports Prevention Project in Earthquake Region in India

Munich ReMunich Re is supporting a two-year project by GeoHazards International to protect people, buildings and infrastructure in Aizawl. The 300,000 inhabitants of this northeast Indian city are exposed to an extremely high

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