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  • The Bermudian (re)insurer Validus Holdings Ltd has emerged as the front-runner to buy the up-for-sale Lloyd’s insurer Talbot Underwriting Holdings, The Insurance Insider understands.
  • Bermudian IPCRe followed its shock Standard & Poor’s (S&P) downgrade with a strong set of first quarter results and plans for a $200mn share buyback.
  • A consortium including ICAP founder Michael Spencer and hedge fund giant Eton Park Capital Management LLC is set to take a controlling interest in electronic trading platform RI3K, The Insurance Insider can reveal.
  • A consortium including ICAP founder Michael Spencer and hedge fund giant Eton Park Capital Management LLC is set to take a controlling interest in electronic trading platform RI3K, Insider Week can reveal.
  • Bermudian reinsurer Aspen Insurance Holdings Limited has returned to the capital markets with two securitisation deals that will provide it with over $1bn in hurricane and earthquake cover.
  • It was at least a year in development, but Paris-based IXIS Corporate and Investment Bank has finally launched its new Bermudian reinsurer and its insurance linked securities fund with some $600mn of capital.
  • It could prove to be a tough year for brokers but Willis Group Holdings Ltd showed yesterday evening that it was still able to grow revenues and profits despite falling rates.
  • US-based brokers Arthur J Gallagher & Co (AJG) and Hilb Rogal & Hobbs (HRH) disappointed analysts with first quarter profits down on expectations as the top line suffered from the impact of declining insurance rates.
  • Steven Haasz – a key figure in driving market reform at Lloyd’s – has resigned, just days after the Society was upgraded to A+ by Standard & Poor’s citing “unstoppable momentum behind improving London market business processes”.
  • Bermudian giants ACE Ltd and XL Capital reported analyst-beating first quarter profits, but the companies’ performance has met with a mixed response from analysts.