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  • Validus has confirmed that it is withdrawing its interest in Transatlantic Re after the latter's board recommended a takeover by US specialty insurer Alleghany, as predicted by The Insurance Insider earlier today.
  • Royal & SunAlliance (R&SA) disappointed in November with a set of results that showed earnings at the lower end of expectations for the first nine months of 2003. The UK's second largest insurer, which announced a £960mn rights issue in September, also
  • Despite having to write down $27.1mn from sub-prime affected securities, US reinsurer Transatlantic Holdings Inc's 2007 profits were boosted by a stronger investment performance.
  • Munich Re has committed a $2bn line to a proposed industry offering that it says has the potential to create $10bn-$20bn in new liability cover from the international (re)insurance industry for offshore drilling operations around the US coast.
  • Market experts have described Lloyd's underwriter Omega's £50mn-£125mn offer to buy-out Names' capacity on its flagship Syndicate 958 as a shrewd move to utilise its excess capital.
  • The insurance-linked securities (ILS) market in 2010 could exceed $5bn in fresh transactions, after a record $1.7bn of issuance in the fourth quarter of 2009.
  • Electronic trading platform RI3K is in talks with the London & International Insurance Brokers' Association (LIIBA) and the "big three" brokers to develop a London market platform, The Insurance Insider can reveal.
  • UK-listed broker Jardine Lloyd Thompson Group plc (JLT) is to undergo a radical restructure that will merge its UK Corporate Risks and JLT Risk Solutions, Insider Week can reveal. Following the merger – due to complete by the third quarter 2006...
  • Rating Agency Fitch Ratings downgraded its financial strength rating on Employers Re to “AA-” last week, citing concerns over the reinsurer’s reserves.
  • In the absence of market-changing catastrophe activity through the rest of the year, Lloyd's opening capacity for 2009 looks set to be marginally down on its £15.95bn stamp capacity at the start of 2008.