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  • The European Commission (EC) has confirmed that insurance and pensions head Karel van Hulle will soon be retiring from his position. His successor has not yet been named.
  • Secondary market prices for cat bonds have regained some of the write-downs made in the weeks after Superstorm Sandy, gaining 1.3 percent over the week to 23 November after the first Property Claim Services (PCS) loss estimate came in at $11bn.
  • The Securities and Exchange Commission (SEC) is considering pursuing civil charges against Steven Cohen's hedge fund firm SAC Capital Advisors after one of the fund's portfolio managers was charged with insider trading.
  • Credit Suisse is carving out a side pocket of reserves for Sandy claims worth 5 percent of the net asset value of the £40mn DCG Iris fund, according to the London-listed fund.
  • USAA expanded its latest Residential Re cat bond from a $250mn target to $400mn, as insurance-linked securities (ILS) demand remained strong in the first offering after Superstorm Sandy.
  • The Association of British Insurers (ABI) said it has reached an impasse in talks with the UK government over the formation of a non-profit risk pool to cover properties at high risk of flooding.
  • The developing world will become more vulnerable to natural disasters over the next 30 years, but the public sector can learn from the insurance industry's use of scientific models to help manage this exposure, according to a new UK government report from the Office of Science Foresight.
  • A study commissioned by Lloyd's has estimated that eight countries in the Asia-Pacific region are underinsured against natural catastrophes by up to $122.5bn in annualised non-life insurance premium.
  • Current trends in the US liability market suggest an imminent deterioration in results, according to Conning Research & Consulting.
  • Debt investors and speculators have become increasingly bullish on French reinsurer Scor, though this sentiment that has not yet been matched by a similarly optimistic stance on the company's shares, according to analysis by The Insurance Insider.