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  • The three Lloyd's members' agents are divided over whether to support a planned pre-emption by Ryan Specialty Group (RSG)-managed Jubilee Syndicate 5820, highlighting divisions within the traditional Names community over the support of syndicates that, like Jubilee, welcome their capital.
  • Argo's Syndicate 1200 has cut back its premium income targets for a number of lines for 2013 and will not enter the bloodstock market as previously planned, according to pre-auction disclosures.
  • The US government-backed National Flood Insurance Program (NFIP) is on course for another bail-out, with the deluge of claims from Superstorm Sandy expected to burn through its $900mn cash reserves and remaining $2.9bn borrowing authority by the end of the month.
  • With P&C stocks trading down as a result of the uncertainty surrounding the ultimate impact of Superstorm Sandy, strong fundamentals and post-event pricing potential are drawing renewed interest from investors looking to capitalise on a return to upward movement in the sector.
  • Few companies released a public estimate of their potential Sandy losses during the recent earnings season as the wide range of industry loss estimates from modellers illustrated the complexity of the task.
  • Guggenheim Life, which has the backing of private equity firm Apollo, is in exclusive talks to acquire Aviva USA, it has been reported.
  • The largest Hong Kong IPO of 2012 is earmarked for 7 December as fundraising began in earnest this week for the listing of giant Chinese insurance group PICC.
  • The sale process of UK-listed run-off acquirer and (re)insurance service provider Tawa has been complicated by bid structures that have large contingent elements, according to well-placed sources.
  • With Flagstone Re's acquisition by Bermudian peer Validus moving closer, the future of the former's $160mn capacity provision deal with Chaucer Syndicate 1084 remains unclear.
  • QBE's share price fell 15 percent last week as rating agencies and investors responded negatively to the firm's 12 November profits warning.