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  • A year on from fruitless M&A talks with Aspen, Ariel Re is again attracting potential suitors, this time from Japan, The Insurance Insider understands.
  • The UK Solicitors Regulation Authority (SRA) has ordered an audit of insurers providing professional indemnity (PI) cover to the industry amid growing concern over the misreporting of income on compulsory cover, The Insurance Insider can reveal.
  • Ace CEO Evan Greenberg has set aside his long-term opposition to share buybacks by securing approval for a $600mn programme.
  • The Middle East is back on track for insurance growth after a slight stumble in the Qatari and United Arab Emirates (UAE) markets last year as construction in Dubai stalled.
  • Zurich Financial Services has been upgraded by AM Best to reflect the global composite insurer's improved capitalisation.
  • Lonmar Global Risks has reached a cash settlement with fellow London independent Tysers for court costs arising from the 12-day staff poaching trial that ended with all claims being dismissed, The Insurance Insider can reveal
  • Any 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.
  • QBE has continued its North American acquisition drive by agreeing to purchase Bermudian RenaissanceRe's US insurance operations for around $275mn.
  • Lloyd's and motor insurer Chaucer will set up a new energy division and build a direct brand for its UK motor business after completing a strategic review into its operations under new CEO Bob Stuchbery.
  • Kiln, the Lloyd's subsidiary of insurance giant Tokio Marine, has announced that Edward Creasy is to step down as chairman after 11 years at the firm.