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  • Israeli energy conglomerate Delek Group has signed a memorandum of understanding (MOU) with Chinese holding company Fujian Yango Group to sell its stake in insurer Phoenix Holdings for 1.8bn shekels ($462mn).
  • Tower Group acquirer ACP Re has been downgraded to B++ from A- by AM Best after it failed to submit financial statements for 2015.
  • China's first earthquake insurance policy was unveiled last week (1 July) as a first step in an effort to establish catastrophe insurance in the country
  • Swiss Re Corporate Solutions has promoted Axel Brohm to CEO of its Latin American business, the company announced today (1 July).
  • Liechtenstein-based carrier Gable has suspended the trading of its shares on the Alternative Investment Market exchange pending the publication of its 2015 accounts.
  • London-listed Beazley has appointed Christine LaSala as a non-executive director, effective today (1 July).
  • The sale of RSA's Uruguayan arm to Suramericana has closed to complete the Colombian insurer's acquisition of RSA's Latin American operations
  • Vibhu Sharma has resigned from his position as head of Zurich's UK general insurance (GI) business, the company announced today (1 July).
  • Claims from the earthquake that struck Japan's Kumamoto prefecture in April edged up 3.6 percent in the last week to hit 329bn yen ($3.2bn), according to the General Insurance Association of Japan
  • PartnerRe has restructured its business into three worldwide segments, effective 1 July, it announced yesterday (30 June).