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  • SCOR CEO Denis Kessler has reaffirmed his organisation's commitment to growing in the emerging markets but added that the only way to do so successfully was to back "indigenous people" and be patient on returns.
  • 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.Having handed his role as CEO of QBE Europe for former Ace executive Richard Pryce, Burns was due to move to Sydney to replace Neil Drabsch as group CFO in February next year.
  • Hannover Re is set to take a EUR64mn ($87mn) net loss from Hailstorm Andreas, which caused significant damage in Germany in late July, the reinsurer said today (17 October)
  • Standard & Poor's (S&P) has upgraded its financial strength rating for Uniqa to A- from BBB+ following the Vienna-listed composite insurer's EUR757mn ($984mn) equity placing earlier this month
  • Just Retirement, the Permira-owned specialist UK life insurer, plans to raise £300mn ($480mn) through an initial public offering on the London Stock Exchange, it said today (17 October)
  • German legacy acquisition firm Darag has bought Swiss reinsurer Veritas and an inactive portfolio from Belgian insurer OHRA Belgium, The Insurance Insider can reveal.
  • Hedge Fund Two Sigma has emerged as the frontrunner to take over SAC Capital's stake in the Bermudian reinsurer it founded last year, The Insurance Insider can reveal.
  • RLI Corp lifted third quarter operating earnings by 39 percent to $30.5mn as reserve releases continued to boost underwriting income.
  • Platinum Underwriters continued to buy back its stock aggressively in the third quarter, while the (re)insurer's underwriting result was again left reliant on a significant contribution from reserve releases.
  • Lloyd's insurer Hiscox has hired Angela Adams to serve as underwriting leader for its general liability book in the US.