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  • Travelers has opened a $1.25bn hole in its previously tight US cat programme after running its Longpoint Re II securitisation through RMS version 11 resulted in a much higher attachment point for the cat bond.
  • RKH closes Marsh wholesale purchase; Scor's upgrade foursome; Goldman hires new asset management head; RSA buys Quebecois insurer for £94mn; Swiss Re Corporate Solutions hires Asia Pac head; Validus completes $200mn share tender; Buffett bets against US recession
  • Loss estimates for the 2011 Thai floods have migrated up to the $20bn mark following recent loss deterioration, comfortably outstripping most earlier predictions from various authorities.
  • It could hardly be a more patriotic British scene. Two top-performing entrepreneurial London-headquartered broking houses come together to help form a pretty punchy outfit that is strong enough to take on the big boys in quite a few classes.
  • Berkshire Hathaway has crowded out the open market by agreeing to write the whole limit of Suncorp's New Zealand cat cover, thought to be in the region of US$200mn, The Insurance Insider understands.
  • Marsh Ltd, the global broker's UK and Ireland operation, has hired Mark Weil as its new CEO following Martin South's promotion early this year
  • The share price in Italian powerhouse Generali is now up 10 percent following the ousting of CEO Giovanni Perissinotto by disaffected shareholders
  • Reinsurance price rises flattened out in June - a key renewal date for Florida and some US nationwide accounts - as the industry built up capital levels in a period of little catastrophe activity, Guy Carpenter said in its report on the 1.6 renewals
  • Uncertainty over exposure to unmodelled loss events such as US tornadoes has driven reinsurers to seek exclusions for them as a peril, according to Sanjay Godhwani, property product line executive at Chartis.
  • Underwriters were left disappointed by rate rises at the Florida-dominated 1 June wind renewal, raising questions over the durability of the hardening market for US cat reinsurance.