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  • Susan Rivera, one of Eliot Spitzer's biggest scalps when she resigned as head of ACE Group's US property & casualty operations last year, has returned to the industry as president of the Hannover Re Group's rebranded US specialty operations, Praetorian...
  • Ratings agency Standard & Poor's (S&P) affirmed its junk ratings on three catastrophe bonds affected by the collapse of Lehman brothers after their total return swaps were terminated...
  • Lloyd’s “plumbing” system of outdated, paper-based processes is so unwieldy and inefficient and weighed down with the “sewage” of so many unsigned wording, delays and errors that its “customers can’t bear the stink”, according to Alex Letts, CEO of...
  • Endurance Specialty Holdings reported that net profits for the fourth quarter and 2010 fell by almost a third largely due to the impact of catastrophe loss activity on its reinsurance book.
  • Independent reinsurance broker RK Carvill has announced that it is to cease placing or renewing any new treaty business incepting after 1 April 2009, The Insurance Insider has learned.
  • The largest Lloyd’s M&A transaction since Catlin’s £600mn swoop for Wellington in late 2006 will take place if Chaucer Holding’s board recommend an all share offer made by rival Brit Insurance.
  • After 10 months at the helm, Omega CEO Richard Pexton stands to make up to £3mn from shares and options if a deal with Canopius closes, according to analysis from The Insurance Insider.
  • Six months of benign catastrophe losses and low attritional losses more than offset a choppy investment environment to make a meaningful improvement in the reported profitability of the specialty London (re)insurance sector.
  • American International Group (AIG) has agreed to hand over details of all compensation paid to senior executives to New York attorney general Andrew Cuomo as he looks to recover “illegal expenditures” from the beleaguered insurer.
  • Quanta Capital Holdings has signed heads of agreement with Chaucer Holdings and the senior underwriting team of its Syndicate 4000 to form a new Lloyd's managing agent, Pembroke Managing Agency Limited.