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  • As the swollen waters of the Mississippi River spill into Mississippi and Louisiana, insurers are bracing themselves for further significant claims in May after a record April for tornado losses.
  • Property Claims Service (PCS) has put an initial loss estimate of $5.05bn for the devastating final outbreak of tornadoes and thunderstorms that struck the US last month.
  • Recent Lloyd's start-up Apollo Syndicate 1969 intends to reduce its property direct and facultative (D&F) exposures in Japan for the remainder of 2011 and concentrate instead on catastrophe treaty excess of loss placements, our sister title Inside FAC revealed last week.
  • Last week a trio of small/mid-cap publicly quoted Lloyd's insurers revealed differing growth outlooks for 2011 in their interim management statements.
  • Bermudian reinsurer White Mountains will become the owner of the 31st syndicate to start up at Lloyd's since 2007 when it begins trading later this year, research from The Insurance Insider shows.
  • The credit insurance sector is set to diversify and adapt to meet the challenges of recent years, according to Mike Holley, chief executive at London-based start-up Equinox Global.
  • Charles Taylor Consulting (CTC) has reiterated pessimistic comments on a slow start to the year in its interim management statement.
  • Shareholders in Heath Lambert will receive just £32mn from its takeover by AJ Gallagher International, with the remainder of the purchase price going to pay off debt.
  • The European professional indemnity (PI) insurance market brought in about is set to grow to be worth EUR7bn by 2014, research from Finaccord predicted last week.
  • Ross Hood, one of the architects of Hannover Re's aggressive play in the UK solicitors' Professional Indemnity (PI) market, has left the company, The Insurance Insider can reveal.