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  • Ratings agency AM Best has affirmed its ratings on Bermudian reinsurer Validus after the firm revealed its bid for Transatlantic Re on Wednesday (13 July)
  • Axis has lowered its industry-wide loss estimate for March's Japan earthquake to $25bn-$30bn from $30bn-$35bn, while reporting heavy second-quarter losses from other events
  • Cat bonds can provide a cheaper alternative to traditional cover following soaring retro rates in 2011, according to broker Willis Re
  • A sharp fall in Validus' share price yesterday (13 July) has hit the value of its bid for Transatlantic, eroding its premium to the Allied World offer price from almost $380mn to just $78mn
  • Transatlantic Re's long-serving President and CEO Robert Orlich has written to the company's global staff today (14 July) following Validus' unsolicited move to gate-crash the proposed merger with Allied World.
  • London-listed international broker Thompson Heath & Bond (THB)'s pre-tax profits for the six months to 30 April have doubled to £1.9mn, as exclusive takeover talks with US wholesaler AmWINS continue
  • Shares in The Hartford were down 3.25 percent in after-hours trading after the US giant issued a Q2 profits warning on catastrophe losses and an asbestos charge.
  • Validus Holdings' move to derail the TransAllied merger with an improved $3.5bn tax-free offer triggered a 5.14 percent climb in Transatlantic Holdings shares today (13 July) as investors in the New York-headquartered reinsurer reacted positively to the news.
  • Italian insurance giant Generali is exposed to Eurozone sovereign credit risk, rating agency Fitch has warned.
  • The resilience of the European insurance sector to stress scenarios applied by the European Insurance and Occupational Pensions Authority (Eiopa) earlier this month will be considered credit positive by ratings agency Moody's.