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  • US primary insurer State Auto has become the latest carrier to admit to significant creep in its second quarter loss toll, providing yet more evidence of a theme that is expected to continue as (re)insurers present their third quarter results.
  • Lloyd's (re)insurer Canopius has said the post-transaction "reinvestment" mentioned by Omega in its statement yesterday (17 October) would be a selective injection of cash into the enlarged group by way of a share issuance
  • Connecticut-based SAC Capital Management is poised to become the next hedge fund to launch a reinsurance vehicle, SAC Re
  • New York-listed broker Brown & Brown reported that organic revenues had fallen by 2.4 percent in its third quarter results
  • Cathedral Underwriting's syndicate 2010 is expected to produce a small overall loss in 2011, owing to its exposure to the numerous large loss events of the first half of the year, a ratings affirmation from AM Best has revealed.
  • Bermudian run-off acquirer Catalina has completed its purchase of Residential Loss Control Holdings (RLCH) after obtaining regulatory approval from the Colorado and Hawaii Departments of Insurance.
  • The UK's Supreme Court has ruled that the Scottish Parliament's legislation on pleural plaques should stand, dashing the hopes of insurers that had mounted an appeal to have the legislation overturned.
  • Artemis Group has agreed to pay $60mn to settle a lawsuit with AIG over the acquisition of an investment portfolio from failed Californian insurer Executive Life dating back to the 1990s.
  • One challenge facing the senior partners of Clyde & Co and Barlow Lyde & Gilbert (BLG) is to plug the loss of key partners from BLG before the merger completes at the end of this month.
  • The merger of UK insurance legal heavyweights Clyde & Co and Barlow Lyde & Gilbert (BLG) will provide the insurance industry with a "Rolls Royce" law firm to rival the practices that serve the banking sector, according to the firms' senior partners.