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  • UK pensions insurer Rothesay Life announced today (22 October) that its parent, Goldman Sachs, has agreed to sell stakes in the company to a trio of buyers including Blackstone and Singaporean sovereign wealth fund GIC, confirming a report published by The Insurance Insider on 5 September.
  • US P&C insurance group Travelers reported a flat quarterly profit on Tuesday (22 October) as a stronger underwriting performance, helped by a sustained rise in prices, was offset by lower investment income.
  • Lloyd's insurer Hardy has hired former Kiln active underwriter Lloyd Tunnicliffe to lead its property treaty business unit, filling a position that has been vacant since David Carson left the business in June last year.
  • XL CEO Mike McGavick has poured scorn on suggestions that capital markets could provide ample capacity for the terrorism insurance market if the US government backstop for insurers was removed
  • BP Marsh, the insurance-focused venture capital firm, said it was in talks about investing in new broker start-ups as it reported a 5.3 percent increase in the net value of its assets during the six months to July 31.
  • WR Berkley continued to talk up the rate gains in its renewal portfolio providing the first key data point from insurance carriers on sustained momentum on rates in the US P&C sector in the third quarter earnings period.
  • Victor Peignet, the global CEO of Scor's P&C operations, has defended the reinsurance business from the charge that it is not innovative enough
  • Scandinavian specialist Compre Holdings has said its "innovative" acquisition of two Norwegian legacy portfolios would pave the way for further similar transactions that can "unlock" value for owners of run-off P&C business.
  • Steven Burns, who recently relinquished his position as CEO of QBE Europe, has reversed his decision to become Group CFO of the Sydney-listed insurer and will instead retire.
  • The Lloyd's start-up led by Duncan Dale, the former managing director of Amlin London, will focus on writing property and casualty (re)insurance only as it looks to concentrate its resources.