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  • 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.
  • Zurich Financial Services has been upgraded by AM Best to reflect the global insurer's stronger balance sheet.
  • 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.
  • More than 95 percent of "Ground Zero" workers who helped clear up debris after the September 2001 terrorism attack on the World Trade Center have agreed to a compensation offer worth at least $625mn.
  • QBE has continued its North American acquisition drive with an agreement to purchase Bermudian RenaissanceRe's US insurance operations for around $275mn.
  • Kiln, the Lloyd's subsidiary of insurance giant Tokio Marine, confirmed last week that Edward Creasy is to step down as chairman after 11 years at the firm.
  • The American International Group (AIG) stake owned by Hank Greenberg and the Starr Group has fallen in value from $32bn to just $590mn on a precipitous drop in share value and the gradual selling down of the stake.