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  • Specialty insurer WR Berkley yesterday (18 December) announced its board had authorised a replenishment of its share buyback programme back up to a level of 10 million shares.
  • Moody's has put the credit ratings of troubled UK general insurer RSA on review for downgrade after a string of profit warnings from the group culminated in the departure of CEO Simon Lee last week.
  • Paul Owens has been appointed chief executive officer of Willis' newly created captive management business, the global broker said today (19 December).
  • UK regulator the Financial Conduct Authority (FCA) has fined London-headquartered broker JLT Specialty Limited (JLTSL) more than £1.8mn ($2.9mn) for failing to maintain adequate safeguards against the risk of bribery or corruption when making payments to overseas third parties.
  • Shares of short-target AmTrust Financial have taken another beating in today's trading in New York, taking the stock into negative territory for 2013.
  • Excess capital among insurers and reinsurers contributed to overall softening in the US property insurance market through to the end of Q3, according to broker Marsh.
  • Ratings agency Standard & Poors has affirmed its 'AA-' insurer financial strength rating on Swiss Re with a stable outlook.
  • Tower Group shares have fallen by almost a third after the embattled US insurer unveiled a further reserving charge of up to $105mn, outweighing news of a $70mn windfall from the sale of its stake in Lloyd's carrier Canopius.
  • ANV Syndicate 779 has appointed former Capita senior underwriting consultant Lisa Feek to the role of medical underwriter.
  • TransRe, the reinsurer bought by Alleghany in 2012, has received regulatory approval from the Prudential Regulation Authority and Financial Conduct Authority for its newly-formed UK subsidiary to write reinsurance business.