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  • Fresh from completing its £97mn acquisition of Heath Lambert, Gallagher International has continued its expansion into the UK commercial markets with the hire of two senior executives from UK consolidator Towergate.
  • The Hanover's proposed £313mn takeover of Chaucer has been approved by more than 99 percent of shareholders who voted at its pre-takeover meeting last week.
  • The Texas Windstorm Insurance Association (TWIA) has confirmed its purchase of $636mn in reinsurance protection from the private market, a move first revealed by The Insurance Insider.
  • Leading (re)insurers and investors have highlighted the challenge of meeting long-term return targets in the sustained low interest environment and broadly soft property and catastrophe underwriting conditions.
  • PartnerRe's probable maximum loss (PML) for a 1-in-250 year wind event in the US was 36 percent of its equity or $2.2bn at 1 January - making it the most exposed reinsurer.
  • COO of Aon Broking Lambros Lambrou has taken over from Rob Woods as head of Aon's London market operations with immediate effect, The Insurance Insider can reveal.
  • Aon, the industry's largest provider of facultative business to the reinsurance markets, says it is not expecting a major restructuring to its 550-strong dedicated fac unit despite the departure of its head Elliot Richardson at the end of last month.
  • Guy Carpenter sees normal Pacific wind; Liberty Mutual's Kelly retires; McCusker to step down from XL; Axis Re CEO Fischer heads to NY; Brit's Beaton moves to Newline; CEA in Argentine protest; Xchanging confirms Lever as CEO; Roscoe moves to Beazley; London kingmaker in a deal of its own; Marketform hires D&O underwriter; CV Starr Chinese investment approved; Guy Carp appoints Pacific CEO; Allied World upgraded by S&P; Keogh is Ace's new COO; Tristan McDonald leaves Aon Benfield; Axis chair
  • The recent deluge of catastrophe losses combined with model changes has created a "new baseline" for pricing of property cat reinsurance, according to Aspen Insurance Holdings CEO Chris O'Kane.
  • New Zealand insurer Tower is taking the state-backed Earthquake Commission (EQC) to court to determine how much the government scheme should pay out to Christchurch householders stricken by multiple earthquakes in the past year.