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  • Swiss insurance giant Zurich Financial Services revealed last week that it had promoted Dieter Wemmer to the role of chief executive officer of Europe General Insurance while adding him, together with ZFS’ head of global corporate business Geoff Riddell,
  • The board of Transatlantic Re has been given until Wednesday (2 November) morning to accept an offer from Validus or face the resumption of hostilities, The Insurance Insider understands.
  • The impact of heavy 2011 catastrophe losses is clear to see in the statutory results of US reinsurers, which reveal an aggregate underwriting loss of $2.17bn for the sector for the first nine months of the year, according to data compiled by the Reinsurance Association of America (RAA).
  • Underwriting discipline in the turning market took top priority as US reinsurance industry leaders and Standard & Poor’s (S&P) analysts gathered in New York last week for the rating agencies annual insurance conference.
  • Global reinsurer Scor has finalised the divestment of its US fixed annuity business to Athene Holdings for $55mn.
  • (Re)insurance scholars with a penchant for a bit of Buffettology are in for a treat on 29 September when what is promised to be Warren Buffett's only authorised biography hits the bookshelves.
  • Scottish Re, the beleaguered Bermudian life reinsurer, lost almost half its value as its shares crashed last week.
  • Fairfax Financial Holdings booked net earnings of $290mn in Q1, despite $182mn cat losses driving its overall combined ratio to 112 percent, as the firm's investment performance came to the rescue.
  • London market broker Tyser & Co has been refused leave to appeal a decision that upheld market custom that underwriters are entitled to placing and claims documentation held by broker.
  • The last month has seen several developments in the protracted and increasingly acrimonious divorce proceedings between American International Group (AIG) and the company's former chief executive Maurice “Hank” Greenberg.