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  • Marsh & McLennan (MMC) has set itself an ambitious long-term earnings per share (EPS) growth target of 13 percent, despite the soft market and economic headwinds.
  • Flagstone Re is renewing its whole account quota share protection of Chaucer Holdings, providing the London market insurer with significant 2011 reinsurance capital in advance of the imminent Lloyd's coming-into-line exercise, The Insurance Insider can reveal
  • There is further evidence of mounting M&A activity on Lime Street with news that Lloyd's insurer Jubilee Group is in exclusive takeover discussions with Clal Insurance, the Israeli industrial and financial services conglomerate.
  • The European arm of Pat Ryan's recent start-up has hired Simon Hayter, the former vice president of Chubb Europe, to spearhead its move into the political risk/credit insurance arena, The Insurance Insider can reveal.
  • Israeli financial services conglomerate Clal Group is in advanced talks to acquire Jubilee Group, the Lloyd's insurer that has recently seen a flurry of senior management departures, The Insurance Insider can reveal.
  • American International Group (AIG) has been forced to scale back its valuation of Asian life insurer AIA for its upcoming initial public offering (IPO) in Hong Kong.
  • Ace Group has secured Juan Andrade from The Hartford to head up its property and casualty personal lines and small commercial business.
  • Swiss Re CEO Stefan Lippe has overhauled the reinsurer's senior management team, bringing in new chief operating and chief risk officers and creating a number of new positions.
  • Bermudian (re)insurer Allied World is to move its main holding company from Bermuda to Switzerland, providing further evidence that the island is losing its lustre as an offshore domicile.
  • Flagstone Re expects claims from the New Zealand earthquake of $52.5mn net of reinstatement premiums and retrocession.