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  • Investors holding 42 percent of Hiscox's shares voted against the (re)insurer's director pay policy at its annual general meeting yesterday (15 May), in one of the biggest shareholder revolts at a London-listed company this year
  • United Insurance Holdings is set to ride to the rescue of Sunshine State Insurance Company (SSIC) after signing a non-binding letter of intent to buy its fellow Floridian and inject capital to restore its Demotech rating.
  • Allstate shares were trading down this afternoon after the US insurance giant announced estimated April 2014 cat losses of $250mn along with a $30mn reserve charge for previous months' cat events.
  • Nephila Capital affiliate Ananke Re has committed to invest $10mn in Floridian insurer Heritage through a private placement ahead of the firm's imminent IPO.
  • Managing agency Pioneer Underwriters has appointed former Deloitte partner Ian Clark and London market veteran Eamon Brown as non-executive directors as it strengthens its board and pursues further growth.
  • Global broker Willis today (15 May) announced the appointment of Simon Gaffney as chief operating officer of Willis Global, the business unit that includes Willis Re and the firm's UK and specialties divisions.
  • Troubled US insurer Tower Group has rejected a $3.75 a share takeover bid from Southeastern European carrier Euroins Insurance Group (EIG), stating that the offer does not constitute a "superior proposal" to the recommended offer from ACP Re.
  • Generali, Europe's third-biggest insurer by market value, today (15 May) reported a 9.4 percent increase in its first quarter profit, helped by a strong performance at its P&C insurance division.
  • Legacy-to-live insurance group Enstar has confirmed the resignation of Torus Group CEO Dermot O'Donohoe, as revealed earlier today (15 May) by The Insurance Insider.
  • Chubb CEO John Finnegan has sold another 50,000 shares in the US insurance giant, raising $4.7mn