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  • RenaissanceRe confirmed the launch of its second Florida-dedicated sidecar today (4 June) after it emerged that the impact of the state’s hurricane catastrophe fund expansion earlier this year may be less severe than first feared.
  • AXA has launched a further EUR450mn securitisation of its motor portfolio today, following its innovative EUR200mn FCC Sparc transaction 18 months ago.
  • Shareholders in Alea Group Holdings (Bermuda) Ltd failed to support the increased offer from the US private equity firm Fortress Investment Group (FIN) in a vote on 21 May, but the company said the deal...
  • Munich Re is leading an innovative $110mn reinsurance programme for the World Bank-sponsored Caribbean Catastrophe Risk Insurance Facility (CCRIF), which goes on risk for 16 countries in the region today (1 June).
  • Hiscox’s chief operating officer and G6 chair Sue Langley is leaving the insurer to join Lloyd’s as director of Market Operations and North America.
  • Swiss Re is to sell the UK life operation it acquired as part of its takeover of GE Insurance Solutions (GEIS) in 2006.
  • QBE Insurance (Europe) has merged its London casualty operations to create an £850mn premium-income underwriting unit.
  • Guy Carpenter & Co has appointed the former Benfield Group executive Charlie Fry as its global chief operating officer.
  • Specialist financial services investment bank Fox-Pitt, Kelton (FPK) announced a merger with its peer Cochran Caronia Waller (CCW) last week.
  • Insurers were given a stern warning about the state of the UK’s flood risk at the British Insurance Brokers Association conference in London last week. Professor David Crichton of Benfield’s Hazard Research Centre cautioned the industry that the UK’s Env