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  • Liechtenstein-based investment manager LGT Capital Management has bought Clariden Leu's ILS operations for an undisclosed sum. 0 false
  • Credit Suisse Asset Management is joining forces with Bermudian run-off specialist Armour Group to fundraise for a new fund that will target run-off opportunities in the non-catastrophe side of the property & casualty insurance market.
  • Willis has appointed Andrea Bellone as a managing director in the European team at the broker's Willis Capital Markets & Advisory (WCMA) division.
  • Swiss bank Clariden Leu has received interest from LGT Group and Schroders in buying its ILS funds management operation, according to a report in the Swiss financial media.
  • Eqecat has warned that the latest series of severe storms to strike the US may cost the insurance industry $1bn to $2bn after an unusually strong cyclone brought a month's worth of tornadoes in just two days last week.
  • Chubb has closed its latest East Lane Re offer at $150mn, coming in just $25mn above target, Trading Risk understands.
  • Catco Investment Management has hired ex-Aon Benfield broker Ron Collins in the new role of director of underwriting.
  • Early estimates show that losses from last week's deadly burst of tornadoes in the Midwest are unlikely to match the multi-billion dollar claims from the large storm outbreaks in the US last year.
  • The cat bond market risks discouraging future issuers if it over-reacts to the loss events of 2011 by seeking to tighten up the cover it offers reinsurance buyers, Nephila Capital managing principal Frank Majors said today at the Sifma ILS conference in New York.
  • The convergence market has seen $3bn-$4bn of new fund inflows in recent months as capital market investors seek returns in a weak broader market, said John Seo, founder of leading ILS investor Fermat Capital