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  • Canopius announced the recruitment of Mike Duffy and Alex Shepherd on October 6. The new recruits will underwrite global property insurance for the Lloyd’s insurer, although there will be a particular focus to the US market.
  • Bermudian (re)insurance group Arch saw its 2010 profits fall by only 4 percent, in contrast to many of its rivals.
  • Achilles, the acquisition vehicle for Apollo and CVC's £880mn ($1.4bn) buy-out of Brit Insurance, has made its offer of up to 1,100p per Brit share unconditional after it lowered its acceptance threshold to 80 percent.
  • John Doucette has joined Everest Re Group Ltd as executive vice president, after leaving his position at Max Capital earlier this month.
  • In a record year for securitisation in the sector, French reinsurer SCOR has become the latest (re)insurer to issue a catastrophe bond, with its EUR120mn Atlas III transaction to cover against European windstorm and Japanese earthquake losses.
  • Run-off specialist Ruxley Ventures has received approval from the UK High Court of Justice to transfer the assets and liabilities of Aviation & General Insurance Company to a Berkshire Hathaway subsidiary.
  • Swiss-domiciled (re)insurer Allied World is reserving for net losses of between $30mn and $40mn on the second New Zealand quake
  • Over 2000 policies have been issued from dubious insurer, despite warnings from The Insurance Insider last year, principally for employers’ liability The UK regulator, the Financial Services Authority, (FSA) has warned the industry about CIC - the dub
  • Morgan Stanley analyst William Wilt has advised investors to remain selective as new capital opportunities arise with (re)insurers in the wake of Hurricane Katrina.
  • The US Supreme Court will not review a ruling that allows Chubb Indemnity Insurance Co to seek damages for asbestos injury claims from The Travelers Indemnity Co.