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  • CNA Financial Corporation has announced a deal to offload $1.6bn of asbestos and environmental pollution liabilities to US reinsurance giant Berkshire Hathaway.
  • Expansive London-based agency Dual Corporate Risks (DCR) has signed up Newline Syndicate 1218 to provide £10mn of excess capacity for directors' and officers' (D&O) business, while simultaneously raiding Axis Capital to bolster its team.
  • Specialty (re)insurer Markel Corporation has acquired privately owned US workers' compensation insurer Aspen for $135mn in cash.
  • Brazilian finance minister Guido Mantega is to set up a state-run insurance company designed to fund future infrastructure projects.
  • American International Group (AIG) chairman Harvey Golub has quit the firm over a rift with the group's CEO Robert Benmosche, and has been replaced with immediate effect by Robert S "Steve" Miller.
  • Bermuda and Switzerland - favoured domiciles for many international (re)insurers - are first on European regulators' list for granting Solvency II equivalence to non-EU countries.
  • Ironshore and QBE have shot up data provider SNL's rankings of the fastest-growing excess and surplus lines (E&S) carriers in the US, with Berkshire Hathaway and Allianz falling sharply as they curb premium.
  • Chile has been struck by a 6.5 magnitude earthquake in the Bío Bío region, home to some of the country's leading pulp and paper producers.
  • Two years after Willis acquired rival broker Hilb Rogal Hobbs (HRH), senior former HRH executives have emerged at the head of a new US broker aggregator, The Hilb Group.
  • US crop insurers have agreed a deal with the US Department of Agriculture (USDA) that will see federal subsidies cut by $6bn over the next decade.