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  • The Philippine ferry that sank in the devastating Typhoon Fengshen with more than 800 people on board was covered in the local markets, according to reports.
  • In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • Insurers may face errors and omissions (E&O) and directors and officers (D&O) losses following the collapse of hedge fund business Madoff Investment Securities.
  • Spectrum talks break down, BRIT in the frame After publicly stating dissatisfaction with the performance of personal lines business at its Lloyd's operation, The Insurance Insider understands that giant US insurer St Paul Travelers has been talking wit
  • The Bermudian insurance group Ironshore Inc has told Heritage Underwriting Agency that it does not intend to make a formal offer for the Lloyd’s insurer.
  • Lloyd's insurer Kiln updated its syndicate forecasts last week lowering the profit range on three of the four open years on its two major syndicates, 510 and 557.
  • A notable flurry of major legacy transactions in late December and early January reached a peak with the expansive Bermudian firm Catalina thought to have paid around $ 350mn for Glacier Re, the Soros-backed reinsurer that closed its doors in August 2010
  • French Investment bank and private asset manager Natixis has ruled out suitors AXA, Covea and Groupama as potential buyers of its insurance division, Natixis Assurances, because their price tag was too low, according to reports in the French media.
  • London-headquartered international broker Cooper Gay and US wholesaler Swett & Crawford have agreed to merge into an entity handling $3.5bn in premiums after a month of intensive negotiations
  • Willis Re CEO John Cavanagh says consolidation amongst larger global insurers is driving the trend towards more centralised reinsurance buying.