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  • The airline insurance market remained stable as no dramatic changes occurred to alter market drivers, broker Willis said in its Airline Insight report
  • The reform of the National Flood Insurance Program overcame its first hurdle yesterday after lawmakers in the US House of Representatives passed legislation aimed at overhauling the 43 year old programme
  • Any impression that Allied World would succeed in getting its deal with Transatlantic Re done without competition was exploded after market close yesterday when Validus revealed that it had tabled what it called "a superior offer"
  • Market-leading broker Lockton expects UK solicitors' professional indemnity (PI) rates to harden by 10 percent on average this year as the rising costs of the Assigned Risk Pool (ARP) weigh on profitability
  • Validus has made a cash and share offer that values Transatlantic Re at around $3.5bn - over $300mn more than the Allied World offer recommended to shareholders last month
  • Tokio Millennium Re (TMR) has been approved by the New York Insurance Department to write business for cedants domiciled in the state at lower collateral requirements.
  • Lloyd's insurer Talbot has seized almost £15,000 from former Arsenal goalkeeper Jens Lehmann after securing a court order following the player's failure to pay the premium on a contingency policy
  • An explosion that destroyed the Vasilikos power station in Cyprus is set to be a EUR600mn ($840mn) loss for the international reinsurance market, The Insurance Insider can reveal.
  • Grahame Chilton, the former CEO of Benfield Group, is to become chair of Aon Benfield Fac - the industry's largest facultative reinsurance intermediary - following the departure of Elliot Richardson in late May
  • US wholesaler AmWINS is in the advanced stages of takeover negotiations with AIM-listed London market broker Thompson Heath & Bond (THB), The Insurance Insider can reveal