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  • Under-fire US hedge fund SAC Capital has approached rival Pine River about selling its stake in Bermudian reinsurer SAC Re, newspapers reported today (4 October).
  • Bermudian (re)insurer Aspen has almost completed the re-underwriting of its US property cat insurance book at a gross level for 2013, according to Mario Vitale, CEO of the company's insurance operations.
  • Omega founder and top-five shareholder John Robinson has agreed to end proceedings against his former company after an 11th hour settlement was made ahead of a Bermudian court hearing, The Insurance Insider can reveal
  • The UK operations of Arthur J Gallagher International saw turnover jump by 25.4 percent to £214mn in 2012, the broker said
  • Canopius global property CEO Mike Duffy has warned the London (re)insurance market that it must develop its own view of risk and not rely too heavily external models if it is to ward off the competitive threat posed by the booming insurance-linked securities (ILS) market
  • Bermudian (re)insurer Endurance has responded furiously to a surprise downgrade from Moody's, accusing the rating agency of overlooking improvements in its financial position and its strong stock market performance
  • UK insurer Aviva has completed the long-delayed sale of its US life business to buyout firm Apollo, and says it got higher price than it agreed to when the deal was first negotiated more than nine months ago.
  • Troubled US insurer Meadowbrook Insurance Group said progress in strengthening its balance sheet is behind an agreement with Swiss Re to mutually terminate a surplus relief quota share with the reinsurance giant from 1 October.
  • Moody's has downgraded Endurance Specialty's debt rating from Baa1 to Baa2 and the insurance financial strength ratings of its operating subsidiaries from A2 to A3.
  • Markel Corporation is planning to reduce its reinsurance spend as it uses its enhanced balance sheet after buying Alterra to retain more business net, the company's president and co-chief operating officer Richie Whitt has told The Insurance Insider.