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Financial Services Director General John Berrigan wants to establish a new working group which will report back with proposals in the first quarter.
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The German insurer has placed a new EUR200mn worldwide cat agg deal.
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The execs are set to leave the firm after a combined 26 years at Argo and its predecessor companies.
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The broker has worked for the firm and predecessor component Benfield for 17 years.
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It is understood the new syndicate would write following lines via quota shares or consortia.