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  • Brit Insurance's management will own almost 10 percent if the Apollo-CVC buy-out succeeds, but will have restricted access to profits because of a rare financial instrument controversially used in the takeover of English football team Manchester United.
  • As the quarterly backdrop has held few surprises for investors, the varying net exposures of individual markets to the New Zealand earthquake has emerged as the key performance differentiator.
  • Aon's UK arm has settled a poaching case with its rival Marsh out of court, securing the withdrawal of contempt proceedings against its employee Euan Nicolson after he threw his laptop into a pond.
  • Aon Corporation's continuing broking operations shrunk in the first nine months of 2010 as organic revenues declined by 2 percent, prompting the company's share price to fall below $40.
  • International property cat reinsurance is continuing to be a source of woe for underwriters, with the pile-up of 2010 losses doing little to impact soft market conditions in the sector.
  • A major systemic casualty clash loss is a likelier catalyst for market cycle change than a property catastrophe, according to Aon Benfield Analytics CEO Stephen Mildenhall.
  • The soft market enveloping the global reinsurance industry is placing increased pressure on underwriters to loosen terms and conditions of cover.
  • Amid the soft market gloom, delegates at the PCI annual convention in Colorado Springs found some grounds for optimism on growth opportunities for reinsurers.
  • Australian insurer QBE has appointed John Neal to CEO of global underwriting operations, where he will oversee underwriting for the three main operating divisions created in a recent restructure.
  • The grim state of the US economy is set to feature heavily in conversations as (re)insurance executives gather in Colorado Springs for the Property Casualty Insurers Association of America (PCI) annual convention this week.