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  • Significant reserve releases and a quiet quarter of cat activity helped short tail specialist reinsurer Montpelier Re highlight the likely reversal in fortunes of cat-focussed underwriters during the first quarter of 2012, as the firm reported analyst beating earnings on a combined ratio of just 59 percent.
  • More than 18 months after its first approach and after upwards of 10 offers later, the Omega board has agreed to recommend a takeover bid from Canopius to its shareholders.
  • Ten years after former Morgan Stanley analyst-turned-author Alice Schroeder became the poster girl for critics of the then creaking Lloyd's market, the investment bank has given a glowing endorsement of the Society and its Central Fund.
  • Fitch has affirmed the AA rating of state-run (re)insurer the Florida Hurricane Catastrophe Fund (FHCF)'s debt just as Citizens, the Floridian insurer-of-last-resort, has turned to the alternative (re)insurance market for $750mn of cat bond cover.
  • Alterra at Lloyd's claims director Steve Robson will take up the vacant role of head of claims at Brit Insurance, The Insurance Insider can reveal.
  • Global (re)insurer Ace reported analyst-topping results for the first quarter of 2012, with benign weather leading to fewer cat losses and one-off investment gains boosting results.
  • WR Berkley chairman and CEO Bill Berkley has argued that the US insurance industry is not in a hard market, highlighting excessive competition and irresponsible reserve management from certain companies as brakes on earnings recovery in the sector.
  • Endurance CEO David Cash has said the firm's Bermudian domicile is still "a given" after Lancashire decided to transfer its tax residence to the UK last year
  • Marsh & McLennan Companies (MMC) has bought a minority stake in Bermudian insurance-linked securities (ILS) fund manager Juniperus Capital
  • Dual, the principal underwriting arm of UK (re)insurance intermediary Hyperion, has announced the appointment of Shane Doyle as deputy CEO