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  • Tokio Millennium Re (TMR), the reinsurance subsidiary of Japanese "big three" insurance group Tokio Marine, reported profits of $140mn in 2013, up by 13.3 percent from $123.6mn the previous year.
  • Profit at Third Point Re, the reinsurer backed by Dan Loeb's Third Point hedge fund, almost halved in the first quarter, weighed down by weaker investment returns and rising crop claims, it said on 8 May.
  • Syndicate Re's renamed Vibe Syndicate Management has received in-principle approval from Lloyd's to write live business from 1 July, The Insurance Insider can reveal.
  • A quote from a source cited in last week's Marcus Scriven profile of Christine Dandridge wrongly asserted that she had wished to be active underwriter of the combined entity following the merger of its Syndicate 570 into Syndicate 609. Normal 0
  • ProSight at Lloyd's failed to establish its own managing agency at 1 April despite receiving approval from Lloyd's last year, after pressure from the Prudential Regulatory Authority (PRA) caused it to suspend the project, The Insurance Insider can reveal.
  • Looking out into the senior audience to open the last week's fifth InsiderScope New York conference, it was easy to succumb to the temptation to permit ourselves a little showmanship.
  • The excess industry capital that first took its toll on property catastrophe reinsurance has spread to most reinsurance classes and big ticket global insurance business, with rate reductions fast gathering momentum, according to multiple market sources.
  • Legacy-to-live carrier Enstar Group's shares were 4.1 percent higher at $135.52 at the time of writing today (12 May) after it reported at the weekend that its profits had nearly trebled in the first three months of 2014.
  • Analysts at Numis Securities today (12 May) initiated coverage of Brit Insurance with a "buy" recommendation, arguing that the Lloyd's carrier's shares are trading at an unwarranted 36 percent discount to the wider sector
  • 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.