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  • Germany-based run-off buyer Darag has confirmed its intention to raise equity capital to fund its acquisition plans.
  • German insurer Talanx was the latest insurer to defer its IPO last week as the euro crisis troubled the markets.
  • White Mountains Insurance Group's specialist legacy acquisition unit has added to its portfolio with a deal to buy two PICO Holdings subsidiaries for $17mn, adding to its recent hot streak of legacy deal making.
  • The travails of the capital markets and historically low investment returns are concentrating the wider (re)insurance industry on the value that can be unlocked by legacy solutions, a panel of senior legacy professionals has said.
  • Despite recent growth in legacy market M&A, the market is still expected to spin around the dual axes of Europe and Solvency II in the years ahead.
  • The up-for-sale UK arm of Groupama has been at pains to stress its independence after ratings agency Standard and Poor's (S&P) downgraded the long-term insurer financial strength and issuer credit ratings of France-headquartered parent company Groupama by two notches from BBB-to BB.
  • RSA has placed a Czech motor insurance subsidiary into run-off, which will add a £10mn restructuring charge to the group's half-year result.
  • Insurers in non-peripheral Eurozone countries could face downgrades if a Greek exit from the euro was handled badly, Fitch has warned.
  • Legacy giant Enstar has suggested it has $300mn of cash as well as $150mn of deal-specific debt financing readily available to fund further acquisitions.
  • Bermudian (re)insurer Alterra Capital holds about a 35 percent stake in its latest New Point retro sidecar, according to a filing made by the company.