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  • Lloyd's has recruited a number of key London personnel to help the franchise in its continued bid to push process reform.
  • Bermuda-based (re)insurer Omega Insurance Holdings announced a 119 percent increase in pre-tax profits to $20.4mn for the first half of 2007 last week, driven largely by Bermudian subsidiary Omega Specialty.
  • Specialist Lloyd's (re)insurer, Atrium Underwriting reported pre-tax profits of £23.8mn for the first half of 2007, an increase of 300 percent on the same period last year.
  • Fresh from completing the acquisition of its London market platform, Bermudian (re)insurance group Ariel Re has acquired an onshore US presence with its purchase of the admitted insurer, Valiant Insurance Co.
  • Acquisitive private intermediary Towergate has bought a major IT solutions provider, Open International Limited, for £276mn - the largest purchase in the group's 10-year history.
  • Bermudian quota share start-up Maiden Holdings Ltd has filed for a $500mn+ initial public offering (IPO) which would see it list on New York's NASDAQ Exchange.
  • HCC Insurance Holdings, Inc has become the latest (re)insurer to be frustrated by the post-US sub-prime crisis credit crunch as it axed a $300mn debt issue on Friday (21 September).
  • Heritage Underwriting Agency Ltd has become the latest specialist Lloyd’s insurer to publish sparkling interim results with profits climbing by as much as 250 percent to £10.5mn for the first half of the year.
  • Insured losses caused by last week’s Typhoon Wipha, which hit China and brought heavy rain to Shanghai, are not expected to reach $250mn, according to catastrophe modelling firm AIR Worldwide.
  • The House of Representatives approved a Bill on 19 September that would extend the Terrorism Risk Insurance Act (TRIA) for 15 years despite the White House stating it would veto proposals unless amendments are made.