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  • Despite difficult conditions and the ongoing capital markets turmoil, underlying performance by European insurers in the first half of 2008 remained relatively strong, according to a report by Moody's Investors Service.
  • 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...
  • 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).
  • Shares in reinsurance broker Benfield Group Ltd rose more than 12 percent to 305p in early trading this morning (28 September) following reports of aborted takeover talks with the private equity arm of Goldman Sachs.
  • Lloyd's brokers expect consolidation to continue over the next three years, despite the majority expressing concern that the credit crunch would impact broker valuations.
  • Maiden Holdings Ltd, the Bermudian domiciled reinsurer that forms part of the AMTrust Group, has produced operating earnings of $58mn in 2008, as it wrote on net written premiums of $727.4mn and produced a full-year combined ratio of 94.9 percent.
  • Covington & Burling (C&B), the US law firm that specialises in representing policyholders in proposed schemes of arrangement, has had its motion to launch a counter-appeal of the controversial Scottish Lion scheme dismissed.
  • Hawaiian governor Linda Lingle has signed a new law making the transfer of insurance-linked securities to the capital markets more efficient for captives.
  • Lloyd's (re)insurer Beazley saw first half pre-tax profits grow by $85.4mn to $115.5mn, boosted by foreign exchange movements and a growth in revenues.
  • Flagstone Reinsurance Holdings Ltd has become the eighth Bermudian to secure a Lloyd’s platform since the start of 2007 with an agreement to buy Marlborough Underwriting Agency Ltd from Berkshire Hathaway.