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The broking houses also said they "remain fully committed to the benefits of [their] proposed combination".
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The move from the US regulator represents the biggest threat to the mega-merger since it was announced in March last year.
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The PRA’s executive director for insurance has outlined the scope of a market study and consultation that will ultimately reform and simplify the Solvency II regime.
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Hiscox leads with the largest number of accepted claims and interim payments, while MS Amlin lags on payment of data-supported claims.
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The news marks the second year in a row members have ceded more than $1bn in risk to the Caribbean Catastrophe Risk Insurance Facility.
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Senior executives on the island saw the coordinated initiative as a clear long-term threat, but one that is mitigated by various other attractions of operating in Bermuda.
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The US Department of Justice’s antitrust concerns around the Aon-Willis merger have not been fully addressed by the brokers’ recent spate of divestment plans.
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The new law limits insurer liabilities for attorney fee suits against insurers and reduces time limits for claims.
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Lloyd’s new chief of markets today unveiled an even tougher approach to syndicates with consistently poor results.
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The information-gathering exercise for large insurers and banks won’t dictate capital requirements.
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The new accounting framework is being brought in to replace current GAAP reporting measures.
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An international competitiveness duty for regulators and measures to promote the UK as a captives centre are among the trade body’s demands.