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  • Law firm Johnson & Weaver is investigating whether members of Tower Group's board of directors breached their fiduciary duties by agreeing to the proposed takeover by ACP Re
  • The 2014 vintage of Validus' AlphaCat sidecar vehicle will be funded with $160mn of capital, the Bermudian (re)insurer said yesterday (8 January)
  • Troubled UK general insurer RSA today (9 January) blamed "inappropriate collaboration" between senior executives for accounting irregularities at its Irish division that forced the company to issue a shock profit warning in November.
  • The International Group (IG) of P&I insurers will increase its pooled retention by $10mn to $80mn for each and every loss in its excess of loss reinsurance protection for 2014/15 as it seeks to mitigate further reinsurance rate rises
  • Shares in France-headquartered reinsurer Scor fell as much as 3.9 percent today (8 January) after analysts at JP Morgan Cazenove cut their recommendation on the stock, citing weakness in global reinsurance prices
  • Shares in embattled UK general insurer RSA rose by over 4 percent today (8 January), taking its gains since the start of the week to nearly 10 percent, after the company said it was confident accounting irregularities at its Irish unit were not replicated elsewhere.
  • Goldman Sachs' private equity arm has completed the acquisition of a 50 percent stake in UK motor insurer Hastings Insurance Group after receiving the necessary regulatory approvals, the carrier said today (8 January).
  • As it faces a large trading-related loss at its investment subsidiary, Aviva does not hold the form of insurance typically used by finance firms to protect themselves against the consequences of improper trading, The Insurance Insider understands
  • Karfunkel is buyer of last resort in a complicated transaction that will see embattled insurer Tower Group divided among his (re)insurance empire
  • Pro-rata sees slight increase in ceding commission, reflecting good 2013 results in the class