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  • Heath Lambert, the UK broker that has to continually fend off takeover speculation, has restructured its operations following the departure of a number of executives.
  • In its first results filing as a public company, Bermuda's Flagstone Reinsurance Holdings Ltd reported first quarter net income of $35.6mn, as it bore net losses of $25.4mn from European Windstorm Kyrill and $6.9mn from satellite losses.
  • Italian (re)insurance giant Generali announced net profits up 20 percent for the first quarter 2007.
  • Investors in PXRE's Atlantic & Western Re (AWR) cat bond have recovered the principal after the bond was effectively triggered by the Bermudian reinsurer's default.
  • In the week that Talbot is set to announce a profitable sale to Bermudian (re)insurer Validus (see article 7), its predecessor company, Allegheny Underwriting drew-down a further £29.9mn from the Lloyd's Central Fund to cover its legacy losses.
  • Despite a hiatus at the beginning of the year partly fuelled by events in Florida, the industry has returned to one of the most notable trends in recent years – securitising its business into the capital markets.
  • Benfield Group's 2005 move into primary lines continues to provoke concerns among some analysts about the reinsurance broker's prospects.
  • Carvill announced last week a tie-up with AIR Worldwide Corporation that will see the modelling company support Carvill Hurricane Index (CHI) in its standard and near-term US hurricane models.
  • Former Royal & Sun Alliance (R&SA) US subsidiary, Royal Indemnity, has been ordered to pay defence costs in its increasingly acrimonious asbestos dispute with General Motors (GM).
  • After a pause caused by events in Florida, the industry is again repackaging its risks onto the capital markets. Indeed, the number of shelf registrations reflects the vibrancy of the ILS market...