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  • Guy Carpenter & Co's newly formed M&A advisory team is understood to be leaving the reinsurance intermediary, following news of the firm's major restructuring first reported by The Insurance Insider earlier this month.
  • New York State insurance superintendent Eric Dinallo is in talks with XL Capital’s troubled affiliate Security Capital Assurance Ltd (SCA) over its capital raising plans.
  • Former Brit Insurance CEO of global markets Mike Sibthorpe is to join rival US-based WR Berkley, The Insurance Insider can reveal.
  • Controlling a third of any market place gets regulators uneasy, especially in a sector as unpopular among consumers as insurance.
  • Bermudian (re)insurer XL Capital Ltd reported a 49 percent drop in net income for the first quarter 2008 on the prior-year period, to $276.9mn or $1.57 per ordinary share.
  • Cooper Gay, the London-headquartered broker currently in talks to buy Heath Lambert's wholesale operations, is mulling the possibility of an initial public offering (IPO) as early as this year, according to reports.
  • The start-up reinsurance intermediary Alpha Re has landed a $9mn property catastrophe account from larger rival Guy Carpenter & Co.
  • As an estimated 10,000 delegates converge on San Diego for 2008's Risk and Insurance Management Society's (RIMS) conference, fresh evidence has emerged of how brokers' revenue models are being transformed amid pressure from buyers and regulators.
  • Lloyd’s (re)insurer Advent Capital Holdings plc fell to a first quarter pre-tax loss of £5.5mn as it was hit by the succession of heavy industrial catastrophe losses this year, together with deterioration on the 2005-07 underwriting years.
  • Zurich Financial Services Group has grown its M&A practice through the opening of a London office.