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  • The bitter dispute between the former heads of Guy Carpenter’s facultative (Fac) business and the company they worked for has reached an out of court settlement at the eleventh hour allowing them to join rival broker Integro Ltd.
  • Shares in reinsurance broker Benfield Group Ltd rose more than 12 percent to 305p in early trading this morning (28 September) following reports of aborted takeover talks with the private equity arm of Goldman Sachs.
  • US hedge fund Deccan Value Advisors (DVA) has built a near 10 percent stake in Benfield Group Ltd fuelling speculation of its potential as an M&A target.
  • Marsh Inc – the broking giant which parted company with its chief executive Brian Storms suddenly this month – is looking to appoint an external candidate to replace him, The Insurance Insider understands.
  • Lloyd’s placed the emphasis on cycle management as it released strong interim results this morning, with pre-tax profits of £1.81bn, up from £1.35bn in the first half of 2006.
  • The European Commission's (EC) long-awaited final report into business insurance has told the industry to justify or reform its co-insurance practices.
  • XL Capital has furthered the market trend in repatriating capital after announcing its second share buyback programme this year.
  • In a coup last week UK life insurer Prudential poached Tidjane Thiam, head of European operations at rival Aviva, to replace its outgoing finance director Philip Broadley.
  • Brit Insurance Holdings plc is to form a Gibraltar based protected cell reinsurer which will provide reinsurance to the UK insurance group.
  • Investment banks Morgan Stanley and Lehman Bros revealed the extent that they have suffered from the sub-prime crisis in the third quarter results last week.