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  • Lloyd’s run-off vehicle Equitas has reached a $90mn settlement with US firm WR Grace & Co over its asbestos liabilities.
  • Cat modelling Risk Management Solutions (RMS) has today (22 May) officially launched its anticipated new hurricane model, incorporating “lessons learned” from the devastation of the last two hurricane seasons.
  • Bermudian-headquartered reinsurer Imagine Group Holdings has appointed Gregory Morrison as president and CEO, filling the gap left by the surprise departure of founding chief Brad Huntington last year.
  • Guy Carpenter & Co has recruited an eight-strong Credit, Bond & Political Risk team headed by the former Benfield Group executive John Orchard, Insider Week can reveal.
  • Willis Group’s long-established Italian financial institutions/executive risks team is set to change sides and join rival Aon Ltd, only months after the world’s third largest broker restructured its London-based professional risks division.
  • UK-listed Jardine Lloyd Thompson Group plc (JLT) today (18 May) announced it has became the latest Western broker to receive approval from regulators for a Chinese (re)insurance broking operation.
  • Start-up (re)insurer Lancashire Holdings Ltd has blamed a sluggish marine market for writing less business this year than it initially planned, according to a trading statement issued today (17 May).
  • French reinsurer SCOR today (16 May) reported a 61 percent rise in its first quarter income to EUR53mn from EUR33mn in the prior-year period.
  • US retail broker Arthur J Gallagher has acquired Florida consultancy form YS Liedman & Associates.
  • Besieged Bermudian reinsurer PXRE Group Ltd revealed last Wednesday (10 May) that it has lost two-thirds of its business following its recent troubles.