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  • Shares in Aon Corporation were up last week amid rumours the broking giant may be the target for a leveraged buyout as private equity interest in the sector continues to grow.
  • The industry’s thirst for alternative reinsurance capacity continues to grow with the $120mn issue of notes under a $500mn shelf programme providing Swiss Re with retrocession cover for Japanese typhoons.
  • Shareholders in Alea Group Holdings (Bermuda) Ltd will vote on an increased offer from Fortress Investment Group (FIN) next Monday (21 May) of 96.5p a share as the reinsurer's suitor attempts to fend off a rival bid.
  • Bermudian start-up Ironshore Insurance Ltd has taken its first step to a US presence after being approved to write property and catastrophe insurance on an excess and surplus basis in South Carolina.
  • Smaller shareholders in Alea Group Holdings (Bermuda) Ltd may have got their wish with the news that the failed reinsurer has received an approach that might lead to a higher offer than the 93p a share offered by Fortress Investment Group (FIN).
  • Bermudian (re)insurer Validus Holdings Ltd has agreed terms for its acquisition of Lloyd’s based Talbot Underwriting Holdings, as predicted by The Insurance Insider.
  • As SCOR found out recently, there are times when shareholders need an extra incentive before they will support take-out offers – and this is looking increasingly the case with the defunct reinsurer Alea Group Holdings.
  • Allstate Insurance Co announced that it would not be writing any new homeowners policies in the state of California from 1 July.
  • London is destined to control a shrinking share of the world's insurance markets, both in absolute terms due to emerging market growth, and in relative terms as a result of "localisation", according to Luke Savage, finance director of Lloyd's.
  • The continuing uncertainties in catastrophe models were highlighted as a stumbling block to high ratings for insurance linked securities (ILS), such as cat bonds, last week.