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  • Brit joined the consensus beaters posting "record" half-year profit before tax of £31mn, compared to last year's loss at the same stage of £4.3mn and well above analysts' expectations of £18-19mn.
  • Bermudian (re)insurer Validus Holdings Ltd has formed a new Miami-based company to act as an approved coverholder for its Lloyd's Syndicate 1183.
  • Reinsurance broker Guy Carpenter & Company said there were no surprises as the market continued to soften at the 1/7 renewals.
  • Shares in Heritage Underwriting Agency plc surged to a record high at the beginning of the month after its board recommended a 154p a share cash offer from Argo Group International Holdings Ltd that is set...
  • Hawaiian governor Linda Lingle has signed a new law making the transfer of insurance-linked securities to the capital markets more efficient for captives.
  • Ratings agency Standard & Poor’s (S&P) downgraded four cat bonds guaranteed by failed investment bank Lehman Brothers in September, signalling further contagion of the financial sector crisis in the insurance linked securities (ILS) market.
  • In a surprise twist to what looked like a done deal, the Australian watchdog has today (19 April) blocked National Australia Bank (NAB)'s A$14bn ($12.95bn) bid for Axa Asia Pacific Holdings on competition grounds.
  • Security Capital Assurance (SCA) has been hit by a further blow with the three notch downgrade of its two main operating units from A- to BBB- by Standard & Poors' (S&P) on Friday (6 June).
  • Charge signals further hits for industry, while doubts remain over run-off reinsurer’s health Equitas announced its annual results for the year ended 31 March 2004 last Tuesday (8 June), revealing a £296mn increase in gross discounted reserves for asb
  • A surge of reinsurance-to-close (RITC) deals is set to slash the number of open years at Lloyd's, providing finality for third party investors including the legions of Lloyd's Names who underwrote on the syndicates now effectively in run-off.