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  • Bermudian reinsurer IPCRe has released a $100mn profit warning following recent storm and flood events on opposite sides of the globe in the UK and Australia.
  • Law firm Sidley Austin has confirmed the appointment of Dorothy Cory-Wright to head up its new London-based (re)insurance dispute practice.
  • Bermudian (re)insurer XL Capital has appointed Brian Nocco as its new chief financial officer.
  • Reinsurance broker Guy Carpenter & Company LLC has announced several senior European appointments, aimed at enhancing the firm’s enterprise risk management and capital markets capabilities.
  • Creditors of Bryanston Insurance Company Limited are to receive a payment percentage of 59 percent after the scheme administrator, Paul Evans, raised the amount by another 12 percent.
  • Lloyd’s CEO Richard Ward has warned the London market that the “pace of change” on business processes remains too slow and reiterated his willingness to mandate action if necessary.
  • For the second consecutive year, the number and total dollar value of US securities fraud class action lawsuits were well below historical averages.
  • Paris Re shares have slipped by 6 percent since floating on Friday (13 July) with fund managers commenting the company may have been over-priced as it made its debut on the Paris-based European Stock Exchange Euronext.
  • UK niche-branded insurer Admiral Group plc’s already-depleted share price fell a further 3 percent on the news last week that it had ended discussions with potential private equity investors regarding its price aggregator subsidiary, Confused.com.
  • Tawa Group is set to float on London’s Alternative Investment Market (AIM) and become the first non-life run-off consolidator to list in London, The Insurance Insider can reveal.