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  • The testimony of former General Re senior vice president Richard Napier continued at the trial of five executives over an allegedly sham finite reinsurance deal with American International Group (AIG).
  • Newly-listed Bermudian (re)insurer Validus Holdings’ reported strong inaugural results as a public company yesterday.
  • Swiss Re and private equity firm CVC are in “advanced talks” to buy a majority stake in Royal Bank of Scotland’s up-for-sale insurance operations, according to reports.
  • Aviation (re)insurance rates in Brazil are set to rise following the second major accident in under a year.
  • French reinsurer SCOR has announced details and the launch of its London "hub".
  • Bermudian reinsurer AXIS Capital Holdings Limited will be losing its chief financial officer due to “personal reasons”. Andrew Cook, who has been a part of AXIS Capital since its inception, will remain with the company until 1 April 2006 to ensure...
  • Fellow Lloyd’s insurers Hardy Underwriting Group plc and Omega Underwriting Holdings plc remain in merger talks despite the failure of two approaches.
  • Munich Re-owned Lloyd's managing agency Beaufort has increased its stake in Syndicate 318 during the Society's capacity auctions and is now obliged to offer to buy out all of the remaining Names for the 2012 year of account, according to a Lloyd's circular.
  • Ironshore Inc has continued its raid on American International Group (AIG) with the appointment of a trio of executives to man a newly created US property/casualty operation.
  • A $115mn settlement has been given final approval in a lawsuit brought by the Teachers Retirement System of Louisiana against four former AIG chief executives and CV Starr & Co.