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  • Apollo, the Lloyd's syndicate that specialises in writing direct and facultative property business, is to appoint Catlin Group's UK head David Ibeson to lead the group
  • Validus is to officially withdraw its interest in Transatlantic Re after the latter's board recommended a takeover by US specialty insurer Alleghany, The Insurance Insider has learned.
  • Sciemus, the London-based specialty managing general agency (MGA), analytics and modelling firm is set to appoint broking veteran Dennis Mahoney as chairman, The Insurance Insider can reveal
  • Bermudian reinsurer Everest Re is close to signing up to support another £20mn special purpose syndicate (SPS) created by Catlin as it looks to create a more flexible capital structure, according to Barclays Capital analyst Andy Broadfield
  • Reinsurance claims from the big three Japanese insurance groups for the floods in Thailand could be up to 350bn yen ($4.5bn), according to Tokyo-based Deutsche Bank analyst Masao Muraki.
  • The South of England P&I protection and indemnity club has been put into liquidation after a bitter court battle with the Bermuda Monetary Authority (BMA) over its solvency and corporate governance.
  • US P&C insurer Alleghany, the prospective new owner of Transatlantic Re, will concentrate on group investment and capital management while leaving the international reinsurer to run its day to day affairs, its CEO Weston Hicks told The Insurance Insider
  • Loss compilation agency Property Claims Services (PCS) has increased its estimate of insured losses from Hurricane Irene to $4.5bn, according to reports
  • Transatlantic Re is being sued by a shareholder over the company's $3.4bn takeover deal with Alleghany.
  • Ratings agency AM Best says it is monitoring developments on flooding in Thailand as the disasters may pose a threat to some Thai (re)insurers' solvency due to potentially insufficient reinsurance cover