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  • The International Group (IG) of protection and indemnity (P&I) clubs has announced that it is to increase the individual retention of its member clubs to $9mn at the next renewal on 20 February 2013.
  • Bermuda is still well-placed to maintain its global prominence in the (re)insurance markets despite the increasing trend for "regionalisation" of risk placement, Axis chairman Michael Butt told the London market last week.
  • Former Equity Redstar owner Eddie Truell is the preferred bidder for the troubled Lloyd's motor business, as Australian parent IAG prepares to sink a further £30mn into Equity to satisfy the Lloyd's Performance Management Directorate.
  • Catastrophe modeller AIR Worldwide has increased its estimate for insured losses from Superstorm Sandy to $16bn to $22bn.
  • Kohlberg Kravis Roberts & Co (KKR) and Onex Corporation have acquired Alliant and USI Holdings respectively in the two most significant broker M&A transactions this year.   
  • The London market is edging closer to setting up an electronic placing platform that could move its more than 300-year-old paper underwriting traditions into the digital age.
  • RSA hires Deloitte chairman; Soames says stay buccaneering; Skuld port of call; Garwyn hires Ives; Plumeri on fiscal cliff; Q-Re gets the Saacke; Gallagher goes Down Under; Crawley swaps jobs after 30 years; Aviva lands new boss
  • UK outsourcing firm Xchanging is poised to announce the hire of senior Hewlett Packard executive Adrian Guttridge to head its growing insurance practice, it is understood.
  • In this business all major catastrophe losses seem to follow a distinct life cycle in the minds of those directly involved.
  • Up-for-sale (re)insurance services provider and run-off buyer Tawa plc is seeking cost savings that will likely lead to mass redundancies at its services companies.