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  • The Royal Bank of Scotland (RBS) has extended the deadline for the first round of bids for its insurance division, following apparent dwindling interest in the units.
  • The trend that has seen many (re)insurers hand back significant chunks of capital to shareholders continues in earnest which has even led to comparisons of early 2005.
  • Markel International and QBE are thought to be confident ahead of the ruling in their High Court showdown with broker Surety Guarantee Consultants Ltd (SGC) and other defendants over construction bond fraud allegations.
  • Arthur J Gallagher International has welcomed aboard Simon Matson, who was due to join the firm’s new joint venture onshore/offshore "boutique" energy subsidiary on 2 June, The Insurance Insider can reveal.
  • Trading risk platform Insurance Futures Exchange Services (IFEX) is to facilitate margin trading during the North Atlantic wind season - in a move that may encourage greater activity on the derivative exchange.
  • Berkshire Hathaway was not immune to the twin assault of the softening market and credit fallout as first quarter net profits dropped by around 64 percent to $940mn.
  • Although RBS' preference is to sell its insurance operations in one fell swoop, The Insurance Insider understands that it is considering listening to offers valuing the broker-only insurer NIG at around £500mn.
  • The London market is reporting lighter sub-prime related claims experience than US insurers, due mainly to its "limited US portfolios", according to senior market sources.
  • The world's two largest reinsurers continue to divide analysts over their prospects as they look to ride difficult underwriting conditions and exposure to the wider global economic and credit environment.
  • Lloyd's publicly traded insurers echoed the themes emerging in Q1 results from their US, Bermudian and European (re)insurance rivals with a flurry of May trading statements that talked of softening rates, pressure on investment returns and higher than...