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  • Bermudian reinsurer Maiden Holdings has significantly reduced its cost of capital after it redeemed its remaining trust preferred securities (Trups) that paid a 14 percent coupon to investors.
  • Expansive US broker Brown & Brown has agreed a deal to buy-out Aquiline-backed The Wright Insurance Group (TWIG) for total net consideration of $602.5mn.
  • After a solid 2013 performance in which it generated a net return for its listed fund of 21.9 percent, collateralised retro writer Catco has significantly de-risked its portfolio for 2014 in a reflection of the changing dynamics in the marketplace.
  • Private equity-backed US broker Risk Strategies Company (RSC) has made its first acquisition since Roger Egan arrived as executive chairman with a deal to buy risk management consulting firm DataRisk LLC.
  • UK insurance trade body the Association of British Insurers (ABI) has denied there will be a delay in implementing the proposed UK flood insurance pooling vehicle Flood Re, which is due to come into force in July 2015
  • Lloyd's most mature and established markets in North America and continental Europe are likely to generate the most attractive opportunities for the 326-year old insurance market this year, according to its chairman, John Nelson
  • Private equity fund Dowling Capital Partners has invested capital with and taken an equity stake in New Ocean Capital Management, the asset manager formed by XL Group and Stone Point Capital in July last year.
  • Aspen has appointed former AIG executive Ken Radigan as chief risk officer of its US insurance operation, The Insurance Insider can reveal.
  • Airline insurance rates fell by 18 percent last year, reflecting stiff competition between well-capitalised underwriters as well as persistently low claims costs, insurance broker Jardine Lloyd Thompson (JLT) said yesterday (14 January).
  • The Hong Kong office of London-listed (re)insurance broker Jardine Lloyd Thompson (JLT) had agreed to buy local rival Lambert Brothers for an undisclosed sum, the firm said today (15 January).