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  • TransRe has several capital market initiatives underway - including a reinsurance sidecar Pangaea Re - as the global reinsurer draws on its new relationship with $80bn asset manager Ares, overnight filings from US insurance parent Alleghany have revealed
  • Liberty Mutual, the third-biggest P&C insurer in the US, swung back into profit in the final quarter of 2013 helped by a steep drop in catastrophe losses, it said on Tuesday (25 February)
  • Arthur J Gallagher (AJG) has appointed the well-regarded Deloitte partner Ian Clark as a strategic business consultant at its UK and international operations.
  • Capita Insurance Services, the UK insurance outsourcing firm, has bought a minority stake in the MGA business Infinity Agency Limited.
  • Torus Insurance chief financial officerTim Harris is leaving to become finance director of Royal London, the UK life and pensions firm said today (26 February), confirming a report in The Insurance Insider.
  • UK home and motor insurer Direct Line today (26 February) reported a 14 percent jump in its 2013 profit thanks to sharply higher reserve releases, and said it expected to take a hit of up to £90mn ($149mn) from heavy winter floods.
  • Alleghany Corporation highlighted record underwriting profits at its reinsurance arm TransRe as the US firm reported solid fourth quarter net profits at the group level of $205.3mn.
  • After years of defying gravity in the Italian medical malpractice market that has seen so many of its peers fall to earth, QBE has been forced to recognise adverse development on its reserves.
  • Dominic Samengo-Turner, Willis Group's global head of broking and products, is set to leave the company after more than two decades, sister publication Inside FAC revealed yesterday (24 February).
  • Howden Broking Group is set to expand its marine operations by establishing a new Rotterdam-based broker specialising in marine and liability business, the company said today (25 February).