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  • 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
  • Saga, the UK insurer for the over 50s, could achieve a market valuation of £2.5bn ($4.2bn) when it floats on the London Stock Exchange later this month, according to the indicative price range published in its shareholder prospectus
  • Ascot has confirmed that it will start writing an international casualty insurance book later this year after hiring QBE underwriter David Fitzpatrick, the American International Group subsidiary said in a statement
  • The influx of capacity from capital markets into the reinsurance sector could almost double to $87bn within the next five years without the need for new investment or proportionate allocations, according to Mike Millette, global head of structured finance at Goldman Sachs.
  • The (re)insurance industry will bifurcate between companies that are able to achieve optimal scale and relevance through strategic mergers and acquisitions (M&A), according to Endurance chairman and CEO John Charman.
  • Demand for casualty reinsurance could spike if alternative capital and traditional reinsurers work together to create a silver bullet in the form of adverse development cover capacity, according to panelists at The Insurance Insider's InsiderScope event.
  • Despite precipitous price falls the property cat sector has yet to find the bottom of the market as the influx of alternative capital continues to drive competition, according to Markel Global Re president and CEO of property reinsurance Jed Rhoads.
  • Mike Sibthorpe, the former WR Berkley and Brit executive, will join AmTrust later this year to head underwriting at the firm's newly acquired Lloyd's platform, subject to regulatory approval
  • 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 today (8 May)
  • If the P&C sector can find excess capital sitting in reinsurance and connect it with the unmet needs of retail insurance buyers it will change the face of the industry, according to Aon Benfield CEO Eric Andersen