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Thursday, June 27, 2013

Lloyd's 2012 Progress Serves to Boost Attractiveness: Aon Benfield Report

Aon Report on LloydsRecord levels of market capacity and spiralling pre-tax profits last year have boosted the attractiveness of Lloyd's market, according to an update report by Aon Benfield Analytics' market analysis team.

Key findings within the report showed that Lloyd's reported a pre-tax profit of £2.8bn for 20...

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Global Insurance Megatrends Threaten Growth, Profitability: Towers Watson

Towers WatsonMany insurance companies feel inadequately prepared to face certain megatrends that will impact the industry in the coming years, including the rise of...

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Swiss Re Sigma Study: World Insurance in 2012 Shows Premium Growth Resumed

Swiss ReSwiss Re's latest sigma study reveals that total global premiums written increased by 2.4% in real terms in 2012 to USD 4 613 billion. Life premiums expanded by 2.3% unwinding some of the contraction in 2011, thanks to improvements in emerging markets and solid demand in the US and advanced Asian markets. I...

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Financial Stability Board to Announce Global Systemically Important Insurers in July

FSB boardThe G-20's Financial Stability Board will announce in July the list of insurers that should be subject to greater international supervision because of their importance to the global economy, the FSB said in a statement.

The FSB, based in Basel, Switzerland, said the names of the of global system...

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BP Writes to Claimants' Lawyers Over US Oil Spill Payouts

BP claiimsBP PLC has written to lawyers of claimants arising from the 2010 Deepwater Horizon oil spill in the U.S. Gulf of Mexico, warning them that BP could seek to recover some of the payments if they prevail in a legal appeal,...

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Federal Cost-Share for Sandy Cleanup, Rebuilding Projects In New Jersey Increased to 90%

FEMAAt the request of New Jersey Gov. Chris Christie, President Obama authorized a federal cost-share increase for projects funded by the Federal Emergency Management Agency's Public Assistance grant program from 75 percent to 90 percent.

"When federal disaster aid to a state meets or exceeds a set amount per state resi...

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The Hartford Agrees to Sell U.K. Variable Annuity Business to Berkshire Hathaway

Hartford annuity saleThe Hartford has signed a definitive agreement to sell its subsidiary, Hartford Life International Limited, in a cash transaction to Columbia Insurance Company, a Berkshire Hathaway company, for approximately $285 million. At closing, HLIL's sole asset will be its ...

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