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  • Private equity house Pollen Street Capital (PSC) is set to buy a majority shareholding in Miles Smith, the UK schemes and affinities broker announced yesterday
  • Tax reform in the US, achieved at virtually lightning speed by a Congress that typically flails for months if not years at persistent problems without resolution, has prompted much speculation and analysis as to how it may change insurance sector dynamics
  • RenaissanceRe is anticipating a $40mn writedown as a result of the US tax bill which passed through Congress on 20 December
  • Private equity-backed Ed has boosted its marine team with the hire of Heather Clarkson as managing director for the line, along with two other brokers
  • Zurich Insurance Group has bought car communications specialist Bright Box in a move it says will allow it to facilitate new insurance services that leverage telematics-enabled data analytics.
  • Property and casualty insurers are starting to dig into the details of pending US tax reforms and finding the few lumps of coal buried in what promises to produce net benefits to their bottom lines starting next year
  • Carriers hit by California wildfire claims will not face ratings actions by AM Best, which said today that the record insured losses from the October fires in the wine country north of San Francisco were “within insurers’ risk tolerances”.
  • Chubb has taken steps to bolster its North American major accounts real estate and hospitality industry group by adding the unit to the responsibilities of Seth Gillston, the insurer’s mergers and acquisitions and private equity practice leader.
  • India's state-owned reinsurer GIC Re moved one step closer to realising its long-held Lloyd's ambitions today as its turnkey managing agency Pembroke announced that its syndicate had gained in-principle approval.
  • The Insurance Council of Australia (ICA) has declared storms that struck parts of regional Victoria and metropolitan Melbourne on Tuesday a catastrophe.