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  • Despite compound rate-on-rate increases across the US commercial P&C sector in the last couple of years, some business lines are not generating enough margin to satisfy shareholder return expectations, according to CNA CFO Craig Mense.
  • Endurance chairman and CEO John Charman has called for a new takeover code to ensure (re)insurers' boards act in the best interests of shareholders.
  • Lloyd's grew its excess and surplus lines (E&S) business by 13 percent last year, taking total premiums to just over $7bn, according to figures revealed by director of risk management and general counsel Sean McGovern last week.
  • The latest round of senior casualty departures at QBE European Operations means that few of the high-profile lead international casualty underwriters assembled by the expansive Australian insurance group over the preceding decade now remain in post.
  • American International Group (AIG) has become the latest global carrier to take a financial hit from a spike in Spanish construction surety claims triggered by the property market collapse in 2008, the US insurance giant revealed last week.
  • There have been at least two new notifications on a directors' and officers' (D&O) policy for the ailing UK Co-operative Bank, which nearly collapsed last year following its disastrous merger with Britannia building society in 2009, The Insurance Insider understands.
  • Beleaguered insurer Tower Group has been downgraded by two rungs to C++ (marginal) after it disclosed a fresh $62.5mn reserve charge in its delayed fourth quarter results.
  • Third-party managing agent Asta swung back into the black in 2013, reporting profits of £2mn ($3.36mn) after sinking to a £2.9mn loss for the 17 months to 31 December 2013.
  • Diversifying legacy acquirer Enstar Group is working on a plan to merge its Torus and Shelbourne Lloyd's managing agencies next year, The Insurance Insider has learned.
  • Brit shares up; Ascot's casualty; Saga IPO; AmTrust hire; Cut price Tower; On track; Rates flat; Swiss Re drop; Esure flat; Weather hit; Integro departure; XL M&A; London pressure; Hiscox down; Scor up; Lancashire promotions; Greenlight Re loss and Alleghany declines