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  • Beleaguered insurer Tower Group and ACP Re have amended their merger agreement to reduce the consideration by a lower-than-expected $0.50 per share to $2.50, with the news pushing the share price more than 30 percent higher in early trading
  • Norway-based marine insurer Skuld said today (8 May) it made a profit of $29mn last year, up from $18mn in 2012, helped by a strong increase in its premium income
  • Excess capital and pressure to sell non-core assets is set to drive an upsurge in M&A throughout global insurance markets in 2014, according to a report from Grant Thornton
  • Ohio-headquartered insurer National Interstate reported flat first quarter profits, held back by costs related to majority shareholder Great American's unsuccessful attempt to take full control of the company.
  • Maiden Holdings' top line held steady in the first quarter despite the termination of its quota share of National General Holdings (NGHC) thanks to a surge in the premium income generated by its reinsurance of affiliated insurer AmTrust.
  • Run-off specialist Catalina today (8 May) said it had clinched a deal to reinsure a $200mn book of legacy marine business written by Belgo-Dutch composite insurer Delta Lloyd
  • Shares in Navigators Group Inc are expected to rise later today (8 May) when trading opens on the Nasdaq
  • Markel Corp yesterday (7 May) said its operating income rose 3.1 percent to $145.7mn in the first quarter of 2014, following the completion of its takeover of rival Alterra.
  • London-listed general insurer RSA today (8 May) said its first quarter profits were in line with its own expectations despite heavy weather-related claims, as it pressed ahead with a restructuring aimed at shoring up its finances.
  • London-listed Charles Taylor performed satisfactorily during the first four months of 2014, the insurance outsourcing firm said today (8 May) in a trading update