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  • Bermudian (re)insurer Validus Holdings has announced plans to buy back 12mn of its common shares for $300mn, after conducting a modified Dutch auction tender offer.
  • Cooper Gay's imminent tie-up with US wholesaler Swett & Crawford comes as London's independent brokers are increasingly squeezed by the rising cost of doing business and dwindling opportunities in a soft market dominated by the big three global players.
  • State Farm, one of the biggest participants in the US National Flood Insurance Program (NFIP), has said it is to stop writing policies under the federal plan, which has become caught in the legislative cogs of Capitol Hill.
  • Run-off books continue to be bought at a premium to net asset values (NAV), as uncertainty over legacy deals' profitability and the huge untapped German and Swiss markets sparked a lively debate at yesterday's (8 June) The Insurance Insider annual legacy roundtable.
  • Marsh has formed an international practice for all nuclear clients based outside North America, in an attempt to capitalise on the renewed global appetite for nuclear energy.
  • Prudential's failed $35bn bid to buy American International Group (AIG)'s Asian business, AIA, was "a bridge too far" for the UK life insurer, according to Maurice "Hank" Greenberg.
  • Matthew Yeldham has re-emerged in EC3 as the new head of casualty at Aegis London.
  • Maurice "Hank" Greenberg has warned industry leaders that an overreaction from global regulators threatens to rob the insurance sector of its ability to make acceptable returns for shareholders.
  • Cooper Gay has confirmed that it is on the brink of a transatlantic merger with Swett & Crawford to form a $3.5bn premium entity, as exclusively revealed last night (7 June) by The Insurance Insider.
  • Hardy Underwriting is set to become the latest Lloyd's (re)insurer to underwrite through the Society's Singapore-based Asia platform.