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  • Julian Adams, head of insurance at the Prudential Regulation Authority (PRA), told a Lloyd's audience today (2 October) that the UK regulator is keeping a close eye on (re)insurers as their business model is tested by the rapid rise of alternative capital providers.
  • Swiss Re Corporate Solutions, the Zurich-headquartered reinsurer's corporate and industrial insurance arm, has launched a Singapore platform
  • Shares in troubled New York-listed (re)insurer Tower Group jumped a further 7 percent in early trading today (2 October), as analysts said reinsurance and quota share deals announced by the firm yesterday may safeguard its future
  • Alastair Blades has been named as chief executive of WR Berkley Syndicate Management, stepping into the shoes of Mike Sibthorpe, who has resigned from the company
  • The European Commission (EC) has published a formal blueprint for a 1 January 2016 coming-into-force date for the much-delayed Solvency II directive, after obtaining assurances that this would constitute a final delay in the process
  • Ailing insurer Tower Group has entered into a series of quota share and excess of loss reinsurance agreements with Arch, Hannover Re and Southport Re to shore up its capital base as it addresses a reserving black hole.
  • Guy Carpenter has launched a new excess and surplus lines (E&S) specialty practice exclusively aimed at servicing the "unique needs" of the specialised carriers that operate in the sector.
  • Hyperion's broking arm Howden has agreed a deal to take a majority share in Norwegian insurance broker NorthEdge Forsikringsmegling AS for undisclosed consideration, it said today (1 October).
  • Shares in recently floated Third Point Re traded up more than 3 percent in New York this morning after analysts at Keefe, Bruyette & Woods (KBW) raised earnings estimates on better-than-expected investment results.
  • The Austrian-headquartered insurer UNIQA may be responsible for introducing the term "re-IPO" into the industry lexicon, but it looks like it is going to be rewarded for its recent EUR750mn capital raise with a pivotal financial strength upgrade.