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  • Citizens Property Insurance Corporation's chief financial officer Sharon Binnun is leaving the insurer after six years in the role.
  • Bermudian (re)insurer Axis Capital plans to take a more "dynamic" approach to hedging its portfolio after previously being a largely net writer.
  • Hannover Re says it will take a net cost of between EUR100mn and EUR200mn as a result of flooding in Central Europe this month.
  • The new capital lured by the relatively high returns of the catastrophe reinsurance sector could be around longer than some market watchers expect, according to Guy Carpenter's head of global business intelligence David Flandro.
  • Financial services firm TIAA-CREF has returned to the ILS market. The fund's director of global public markets Aashh Parekh tells Trading Risk why he'd like to see a larger and more diverse ILS market
  • The handful of nationwide US cat renewals outside Florida that renew in the mid-year are thought to have priced down by 7-15 percent, according to sister publication The Insurance Insider.
  • Florida Citizens Property Insurance was a stand-out example of the alternative reinsurance market lifting its market share at the 1 June renewals, as hedge fund-backed reinsurer DE Shaw and Bermudian fund manager Nephila Capital put down significant lines of capacity on the state insurer's traditional reinsurance programme.
  • Reinsurance quoting activity stabilised in Florida at the 1 June renewal after much more volatile pricing conditions in 2012 and 2011.
  • Reinsurance buyers continued to look for greater aggregate or sideways cover at the mid-year renewals - a trend that works to the strengths of capital market reinsurers as they continue to lift their market share.
  • Axis Re CEO Jay Nichols has set up two new convergence market units within the space of a week, in a move long expected from the former RenaissanceRe Ventures executive.