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  • Barbican has held meetings with Haverford chairman Mark Byrne within the last fortnight to discuss teaming up to take over Omega, The Insurance Insider can reveal.
  • Recent M&A activity on both sides of the Atlantic has done much to highlight differences between how business is conducted on the two continents.
  • A week after the Allied World bid collapsed and Berkshire Hathaway's $52 per share cash expired, Transatlantic Re has revealed that Validus has competition from an unnamed "third party" that has already commenced due diligence.
  • A week after the collapse of the Allied World bid and the expiration of Berkshire Hathaway's $52 per share cash offer left Validus as the sole possessor of the field, Transatlantic Re has revealed that it has competition from an unnamed "third party" which has already commenced due diligence.
  • Lloyd's will make an underwriting loss in 2011 due to its first-half catastrophe losses, as even a benign hurricane season is unlikely to save the market from a combined ratio of 105 percent or above, ratings agency Standard and Poor's has said.
  • Validus, the last standing suitor for Transatlantic, has entered into a confidentiality agreement with the US reinsurer enabling the exchange of non-public information as discussions over its bid for the company get underway.
  • Ryan Specialty Group (RSG) has confirmed that Max Taylor and Johnny Rowell will lead Jubilee as part of a board overhaul following the completion of its takeover of the Lloyd's insurer
  • Standard & Poor's (S&P) has downgraded French mutual insurer Groupama after it failed to convince the rating agency that it had taken sufficient action to improve its financial profile
  • The winding up of insolvent UK insurer Highlands Insurance Company (HUK)'s liabilities has moved within sight after cedant creditors agreed to a scheme of arrangement's terms
  • (Re)insurance service provider and run-off acquirer Tawa has reported a post-tax profit of $11mn for the first half of the year, with results boosted by capital releases from its run-off portfolios.