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  • Bermudian reinsurers are increasingly utilising quota share arrangements with US and international insurers and collateralised reinsurers to support their property cat portfolios and help manage peak capacity.
  • US primary insurer Allstate is expecting catastrophe losses from events in September to cost $215mn, taking the firm's Q3 estimated losses through the $1bn barrier.
  • Giant US primary insurer Chubb reported analyst topping results on Thursday, adding to optimism on hardening US commercial insurance rates that has grown since rival Travelers reported earlier this week.
  • Marshall King, CEO of London-headquartered (re)insurance broker RFIB is leaving the company with immediate effect after only two years in the job.
  • The current dispute between team owners and players in the US National Basketball Association league is unlikely to have a significant impact on the international direct and facultative market
  • David Margrett and Brendan McManus have both vacated their roles in the upper echelons of Willis Group, with no clear indication that they are moving on to new companies.
  • The field is clear for Mark Byrne to pursue his partial takeover of Lloyd's (re)insurer Omega after rival bidder Canopius indicated that it was dropping out of the running.
  • Mark Byrne is in prime position to consummate his deal to take a minority position in Omega after dominant shareholder Neil Woodford of Invesco Perpetual gave his blessing to the Flagstone Re founder's stakebuilding.
  • Mark Byrne's financial vehicle Haverford is set to revise its partial offer for Omega in a bid to head off criticism from some shareholders, The Insurance Insider can reveal.
  • New York-listed broker Brown & Brown has told investors that it will look to repurchase up to $100mn of stock over the next 12 months