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  • Growth in the Middle East is back on track after the 2008-09 construction slump hit the region's nascent insurance industry.
  • Injury-related costs from a mining explosion in New Zealand are unlikely to impact the international insurance industry, as accident cover is provided by a national compensation scheme.
  • Aspen Insurance UK has received regulatory approval to start underwriting from a Zurich branch as an admitted direct insurer.
  • Despite keen investor interest ignited by recent M&A activity, a combination of weak prospective underwriting margins and a perceived lack of capital efficiency will help keep overall equity valuations low in the (re)insurance sector, delegates at an Insurance Insider London One Hundred roundtable heard last week.
  • Zurich Financial Services has been upgraded by AM Best to reflect the global insurer's stronger balance sheet.
  • Outgoing PartnerRe CEO Patrick Thiele believes that a successful reinsurance operation requires a high level of integration between the underwriting and investment functions.
  • Caribbean insurer Sagicor's international property and casualty unit posted a $7.8mn loss in the third quarter as the London-based operation picked up losses from the New Zealand earthquake.
  • Ace CEO Evan Greenberg has set aside his long-term opposition to share buybacks by securing approval for a $600mn programme.
  • Start-up Bermudian reinsurance fund CATCo has signed up two executives from the Qatar Insurance Company to its board.
  • Fears that reinsurance losses from the New Zealand earthquake may be worse than initially expected were confirmed last week, with Platinum Underwriters reporting rising costs from the 4 September catastrophe.