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  • Shares in Ace Ltd are expected to react positively tomorrow after the (re)insurer shrugged off $155mn of Q4 cat losses to book solid after-tax operating profits of $663mn for the period - excluding net realized gains or losses - just 6 percent down on the same quarter of 2010.
  • Lloyd's CEO Richard Ward has reassured the London market that Project Darwin should not be compared to the ill-fated electronic placement initiative Kinnect, which cost the Lloyd's market at least £70mn before it was finally killed off in early 2006.
  • RK Harrison and Tysers have reached an agreement for the latter's Caribbean direct and facultative (D&F) property team to join Elliot Richardson's burgeoning facultative unit, The Insurance Insider can reveal
  • Willis has announced that Bruce Trigg will join its global solutions team as managing director on 1 April. Based in Frankfurt, Bruce will report to Alistair Lester, CEO of global solutions (international).
  • Legacy trade body the Association of Run-Off Companies (ARC) is to change its name to the Insurance and Reinsurance Legacy Association (IRLA).
  • Lloyd's CEO Richard Ward has tried to manage expectations ahead of the market's full-year results release in March by warning that 2011 could end up being Lime Street's worst ever year for major losses
  • Fitch Ratings has downgraded the insurer financial strength (IFS) ratings of Spanish (re)insurance group Mapfre and its core operating subsidiaries by one notch from A+ to A.
  • Underwriters of directors' and officers' (D&O) policies covering the IPOs or reverse takeovers (RTOs) of Chinese companies listing in the US could face claims of more than $250mn, The Insurance Insider understands
  • Contingent commissions paid by property casualty (P&C) insurers to agents are expected to be 12 percent higher in 2012 than 2011, according to a study from research firm Ward Group.
  • A New York Court upheld a $420.4mn ruling in favour of Travelers last week over reinsurance payments due to the insurer over complex asbestos related cases dating back decades.