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  • Montpelier Re has lured Chris Schaper from rival Endurance to take the position of president of its Bermuda operating platform.
  • Allied World and Transatlantic Holdings are trying to tempt floating voters to back their merger proposal at a shareholder ballot later this month with the promise of an additional $80mn of synergies from the deal.
  • Fledgling reinsurance vehicle Third Point Re is currently on a fundraising drive to raise between $250mn and $500mn from investors having already secured $500mn in capital, according to reports
  • Private equity group Permira has struck an agreement with IDB Holdings to buy its 55 percent stake in leading Israeli insurer Clal at a valuation of up to $1.7bn
  • German-based run-off acquirer Darag has bought the legacy business of Austrian insurer Garant, further signalling the increasing sell-side appetite for run-off transactions in continental Europe
  • Insurance companies will have to pay out more than $100mn to cover the cost of wildfires in Texas over the long Labor Day weekend, according to the Insurance Council of Texas
  • Further evidence of a stabilisation of price falls in US property casualty insurance has emerged from broker and underwriter MarketScout, which said its rate index for the sector measured minus 2 percent in August 2011.
  • Rating agency Moody's has revised its outlook on the global reinsurance industry to stable from negative, citing moderation of the imbalance between the supply and demand of reinsurance and the stabilisation of pricing.
  • Argo Group is to hire London market underwriting stalwart Peter Matson to oversee the underwriting of its Syndicate 1200, The Insurance Insider can reveal
  • Swiss Re has said the insurance-linked securities (ILS) market is poised for continued growth as investor demand for alternative risk increases