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  • Novae Group's share price climbed by almost 6 percent today (9 February) after the Lloyd's insurer confirmed plans to finally exorcise its past US casualty reinsurance liabilities and revealed that 2010 profits will be more than 10 percent above analysts' consensus forecast
  • Steve Hearn, currently the CEO of Willis' Faber & Dumas wholesale operation, is to become global CEO of the global broker's reinsurance brokerage Willis Re, The Insurance Insider has learned.
  • US retail and wholesale brokerage Brown & Brown registered a 3.3 percent decline in organic revenues in the final three months of 2010
  • Flagstone Re has disclosed an additional $35mn combined fourth-quarter catastrophe hit from the 2010 Queensland flooding and development of losses on aggregate covers from Australian and New Zealand cedants
  • Guy Hands' private equity vehicle Terra Firma has confirmed that it is weighing up a takeover bid for London-listed Lloyd's insurer Chaucer
  • Fourth quarter net and operating profits slipped at Aspen Insurance Holdings as deteriorating losses from the New Zealand earthquake hit its bottom line
  • PartnerRe has reported a slump in Q4 net profits as investment writedowns combined with catastrophe losses to hit its bottom line
  • Lloyd's insurer Beazley reported a 59 percent year-on-year rise in pre-tax profit to $250.8mn for 2010, boosted by a large contribution from reserve releases and a $33.7mn one-off foreign exchange gain
  • Insurance services and run-off capital provider Tawa plc is upping its investment in the US as it looks to build out its platform through acquisitions, The Insurance Insider can reveal.
  • Guernsey based private equity firm Terra Firma is in talks to acquire Lloyd's (re)insurer Chaucer plc, The Insurance Insider can reveal.