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  • The New York Federal Reserve is seeking bids for some of the collateralised debt obligations (CDOs) it owns in its Maiden Lane III vehicle due to its bailout of American International Group (AIG) in October 2008.
  • Fitch has affirmed Sompo Japan's financial strength rating at A with a stable outlook on the back of the firm's solid capitalisation and lower net insured losses from the Thai flooding compared to its two other "big three" rivals.
  • US specialty insurer RLI Corp's operating profits dipped in the first quarter of 2012 as the impact of deferred acquisition costs (DAC), lower reserve releases and a higher loss ratio on its casualty underwriting offset an improved performance on its property portfolio.
  • Randall and Quilter (R&Q) has continued to deliver on its predictions of an active year for legacy acquisitions with the agreed purchase of Barbados-domiciled captive insurer Trimac Acceptance
  • Randall & Quilter (R&Q) posted a 2011 adjusted profit of £8.8mn and revenues of £36.8mn, with strong reserve releases from its run-off businesses helping it beat the analysts' consensus
  • Despite taking a relatively hefty charge for tornado losses, an otherwise benign first quarter for cat losses enabled Platinum Underwriters to kick off the Bermuda reporting season with a $53.3mn net profit.
  • The excess casualty market is showing strong evidence of hardening in 2012 as underwriters increasingly walk away from business if they are unable to secure sufficient price increases.
  • Talbot Underwriting has appointed Matthew Warren as CEO of its Middle East and North Africa (MENA) division, formerly known as Underwriting Risk Services Middle East (URSME).
  • US insurer The Hartford has completed the $2.45bn repurchase of junior and subordinated debt and warrants owned by Allianz
  • Omega CEO Richard Pexton could earn a gross windfall of $2.9mn if he presides over the sale of the company later this year, analysis from The Insurance Insider shows