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  • Omega's sale to Lloyd's peer Canopius is almost certain to go through after more than 90 percent of votes cast by Omega shareholders favoured the £164mn takeover.
  • Insured losses from May storms in the US could reach at least $550mn, Aon Benfield said in its monthly catastrophe update.
  • Endurance Specialty is looking to hire CEOs for both its insurance and reinsurance divisions as it builds its senior management team under group president and CEO David Cash.
  • Reinsurers must re-evaluate their proportional reinsurance arrangements in non-peak territories to avoid a repeat of the near-record cat losses that blighted the industry last year, a panel of industry leaders has warned.
  • The US casualty market could be facing a payout of around $174mn following a jury award in Illinois over a 2010 accident at a facility owned by US food conglomerate ConAgra Foods.
  • American International Group (AIG)'s P&C insurer Chartis is to cut its reinsurance purchasing by up to 25 percent in 2012 across both treaty and facultative programmes, sister title Inside FAC revealed today (11 June).
  • After a year on positive outlook from AM Best, Montpelier Re was upgraded to A by the ratings agency last week to return to the position it enjoyed pre-Hurricane Katrina.
  • Property catastrophe specialist (re)insurer Lancashire has renewed its flexible sidecar Accordion Re with $250mn of capacity as the retro market continues to offer attractive rates.
  • Lockton Companies LLP chairman Mike Hammond is relocating to the US as the broker looks to integrate its international operations more fully to create a platform for further growth, The Insurance Insider can reveal.
  • Berkshire Hathaway's voracious appetite for Asia Pacific risk appears to be continuing unabated as its (re)insurance division president Ajit Jain takes another extended tour of the region, The Insurance Insider understands.