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  • US giant American International Group (AIG) reported strong first quarter results on the back of a 31.5 percent increase in operating profits at its general insurance business.
  • 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.
  • Lockton Companies Inc burst onto the UK shores in November 2006, with the Stone Point Capital-backed acquisition of Alexander Forbes International Risk Services (AFIRS) and immediately claimed the title of largest privately-owned global insurance broker.
  • European giant Allianz has launched a UK High Court counterclaim against the North Korean state insurer over a controversial EUR45mn reinsurance dispute.
  • US insurers Chubb Corporation, The Hartford and WR Berkley reported profits up and premiums down for the first quarter of 2007, while the longevity of Travelers’ continued growth was also questioned.
  • It was a long time coming, but Brit Insurance finally confirmed the sale of a controlling stake in its electronic trading platform RI3K to a consortium including ICAP founder Michael Spencer, and hedge fund giant Eton Park LLP.
  • Despite record Q1 earnings, boosted by the sale of its iconic London offices and contributions from the GE Insurance Solutions (GEIS) acquisition that positioned it as the world’s biggest reinsurer, Swiss Re remains a close second to Munich Re in the eyes
  • The latest developments in the international (re)insurance market
  • Stephen Way, the founder of HCC Insurance Holdings, has joined forces with a Chicago-based private equity firm to acquire businesses in the (re)insurance sector.