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  • The proposed solvent scheme of arrangement for the Camomile Pool companies has won unanimous approval from its creditors at a series of meetings this morning (10 June), The Insurance Insider understands.
  • Members' agent Hampden has appointed Hugh Garmoyle, a former managing director at JP Morgan Cazenove, as a non-executive director.
  • Niche private equity investor BP Marsh has gone into partnership with Randall Goss-led wholesaler US Risk Insurance by taking a significant stake in the latter's Lloyd's broking house, NCG Professional Risks.
  • Brit Insurance has not responded to a request for comment on suggestions that it recently received a takeover approach.
  • US insurer Liberty Mutual has named one of its most experienced senior executives, David Long, as group president from 1 July.
  • Bermudian (re)insurer Validus Holdings has announced plans to buy back 12mn of its common shares for $300mn, after conducting a modified Dutch auction tender offer.
  • Cooper Gay's imminent tie-up with US wholesaler Swett & Crawford comes as London's independent brokers are increasingly squeezed by the rising cost of doing business and dwindling opportunities in a soft market dominated by the big three global players.
  • State Farm, one of the biggest participants in the US National Flood Insurance Program (NFIP), has said it is to stop writing policies under the federal plan, which has become caught in the legislative cogs of Capitol Hill.
  • Run-off books continue to be bought at a premium to net asset values (NAV), as uncertainty over legacy deals' profitability and the huge untapped German and Swiss markets sparked a lively debate at yesterday's (8 June) The Insurance Insider annual legacy roundtable.
  • Marsh has formed an international practice for all nuclear clients based outside North America, in an attempt to capitalise on the renewed global appetite for nuclear energy.