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  • The executive director of the European Insurance and Occupational Pensions Authority (Eiopa), Carlos Montalvo, has requested that the supervisory body be given a bigger budget and powers to investigate breaches of conduct.
  • Allied World Europe has confirmed the hire of former senior XL London market international casualty underwriting executive Denis Burniston - a move first revealed by The Insurance Insider in August
  • Markel Corp has launched a share buyback programme of up to $300mn, in a continuation of its active capital management strategy
  • Ratings agency Standard & Poor's has raised its outlook to positive for French-headquartered reinsurer, Scor.
  • Ace Limited is pursuing a more aggressive capital management strategy with the authorisation of a new $2bn share repurchase programme and plans to buy back up to $1.5bn of its stock by the end of next year.
  • Enstar and Stone Point Capital, the new owners of specialty P&C insurer Torus, have asserted their authority over their latest acquisition with the appointment of a trio of senior executives ahead of the planned Q4 closure of the deal, The Insurance Insider can reveal.
  • Gulf Re, the Dubai-based reinsurer backed by Arch Capital Group, is parting company with its CEO Michael Gertsch, who is stepping down for "family reasons".
  • Tower Group yesterday (20 November) confirmed it had received a second letter from the operator of the Nasdaq stock market informing the reinsurer that it had breached listing requirements by failing to report its third quarter results.
  • European reinsurance giants Scor and Munich Re both had their financial strength and credit ratings affirmed yesterday (20 November) in a busy day for the rating agencies
  • Shares in Bermudian reinsurer Maiden Holdings climbed 3.6 percent yesterday (20 November) after the company unveiled plans to refinance its expensive trust preferred securities (trups).