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  • Insurance Australia Group (IAG) has said Cyclone Debbie will cost the group A$140mn ($106mn) in net natural peril losses, as claims come in from the storm-battered coasts of Queensland and Northern New South Wales.
  • Validus Holdings’ (re)insurance units had their A financial strength ratings (FSR) affirmed by AM Best while the ratings company raised its outlook to positive on the long-term issuer credit rating (ICR) of a for the Bermudian’s Validus Reinsurance (Switzerland) Ltd unit.
  • Stephen Catlin is retiring from XL Group at the end of 2017, less than three years after the sale of the eponymous Lloyd's insurer he founded to its larger Bermudian rival.
  • Patriot National sold Global HR Research yesterday for as much as $30mn to a unit of Dallas private-equity firm Renovo Capital, saying that divesting the company will let it narrow its business focus to providing workers compensation insurance services and technology.
  • Acquisitive Chinese financial conglomerate Fosun and Matt Fairfield start-up Exin are the two frontrunners in the bidding for Greek state carrier Ethniki, The Insurance Insider understands
  • Aon Risk Solutions has hired XL Catlin's Lee Meyrick as global marine specialty CEO, it announced today
  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Two Florida insurers have joined a number of carriers seeking cover from the cat bond market in the run-up to the hurricane season, sister publication Trading Risk reported last week
  • Munich Re is managing $200mn of funds allocated to the Leo Re vehicle by Dutch pension fund service provider PGGM, sources told sister publication Trading Risk
  • The Insurance Insider's aggregate of P&C (re)insurers, The Insider 50, fell into the red last month as the market continued to digest annual results.