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  • The insurance industry should start preparing for a market turning event in order to be ready to take full advantage when it comes, according to Jeffrey Greenberg, chairman of private equity firm Aquiline Holdings.
  • Berkshire Hathaway shares slipped during morning trading in New York after the man considered heir apparent to CEO Warren Buffett resigned amid revelations over his stock purchases in a recent acquisition target
  • Ariel Holdings will remain a private company after Validus withdrew its interest, The Insurance Insider understands
  • Chartis in a restructure and management shake-up has replaced CEO Kristian Moor with Peter Hancock, the executive vice president of finance, risk and investments at parent American International Group (AIG).  
  • Investors have the (re)insurance sector on a "watching brief" and are alert to the potential of a hardening market, Espirito Santo analyst Joy Ferneyhough told this morning's InsiderScope event in London
  • Stricter capital requirements under Solvency II (SII) should not give insurers an excuse to hoard capital, according to Beazley CEO Andrew Horton
  • The insurance industry is on the threshold of a substantial wave of consolidation, according to Tony Ursano, CEO of Willis Capital Markets and Advisory Services
  • (Re)insurers are unlikely to benefit from increased interest rates until 2013, former Bank of England policymaker David Blanchflower warned an industry audience gathered in the City of London this morning
  • Zurich Financial Services has estimated it will sustain $500mn of claims from the series of natural catastrophes that have hit the Asia-Pacific region since the start of 2011
  • The UK government has unveiled implementation plans for new bribery laws and published final guidance for all commercial organisations with a UK presence on complying when the laws come into effect on 1 July