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  • Claims executives have expressed concerns over whether five years is an appropriate period of time to establish Lloyd's London market target operating model.
  • Ace reshuffles Mena; Dual's M&A debut; Ariel Re picks Xuber; Finpro promotions; AJG hires; Ace boosts marine; $1bn storm prediction; Rate reductions slow; NZ brokerage ban; Ironshore appoints; Alliant enters crop; Sales spike after heist; Hannover Re targets India; AIG bags $3.7bn; Paulson's AIG stake; CNA hire; WR Berkley ups dividend; Lockton expands casualty; JLT Re expands cybe; Universal cat cover; Aspen appoints president
  • Florida-based insurer Universal Insurance Holdings bought half of the lower layers of its private reinsurance programme on a three-year basis as it followed through on plans to drop its quota share cover.
  • Unipol has become the second Italian insurer to turn to the cat bond market for reinsurance support, sister publication Trading Risk reported last week.
  • Allianz Global Corporate & Specialty's newly launched global entertainment division is considering expanding into new lines, and is actively targeting growth in the London market, Inside FAC reported today (8 June).
  • The largest open market accounts in the US property direct and facultative (D&F) space have continued to demonstrate considerable rating declines at recent placements, in marked contrast to the more modest deterioration for treaty renewals, according sister title Inside FAC.
  • The recent trend for major cedants to reduce their facultative reinsurance spend by effectively pulling premium from the market is set to continue with global insurer Zurich, sister publication Inside FAC reported earlier today (8 June).
  • Japanese non-life carriers will continue to undertake overseas acquisitions in order to improve capital management and gain greater diversification, according to a report from Fitch.
  • Long-running speculation over a mysterious last-minute bid for Tower Group may finally have been laid to rest by a US Securities and Exchange Commission (SEC) court filing that accuses a Bulgarian citizen of fraud.
  • In-play Bermudian PartnerRe has urged its preferred shareholders to vote for the agreed sale to Axis Capital, claiming that a downgrade is likely if the rival Exor bid is preferred.