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  • The sale of shares in subsidiary Odyssey Re boosted the fourth quarter profits of Canadian combine Fairfax Financial Holdings to $159.1mn.
  • Converium has reiterated its rejection of advances from SCOR after the French reinsurer stepped up its takeover approach by pre-announcing a public tender offer for the remaining shares in its Swiss rival which it says it will make within six weeks.
  • The acquisition of Hub International for $1.7bn ($1.8bn including debt) is further proof of investors' growing interest in the broking sector – and the rising multiples being charged by sellers.
  • Adrian Ryan, one of John Charman’s key lieutenants at AXIS Capital until his departure last year, has teamed up with Sean Dalton and Andrew Elliott, the former managing director and head of underwriting at Liberty Syndicates, to plan a new Lloyd’s syndica
  • Hannover Re today (26 February) confirmed a deal that securitises reinsurance recoverables worth EUR1bn – equivalent to around a quarter of its total balance.
  • SCOR has stepped up its takeover approach for rival Converium by formally pre-announcing a public tender offer for the remaining shares in the company.
  • QBE Insurance Group pointed to its recent foray of international acquisitions as deliverers of future growth, while joining the ranks of underwriters unveiling record 2006 results.
  • The Delaware insurance commissioner has given Royal & Sun Alliance (R&SA) the green light to spin-off its run-off US subsidiary, subject to conditions.
  • Stephen Way has formally completed his departure from HCC Insurance Holdings, the company he founded in 1974, at the same time as the firm announced a 79 percent leap in profits last year.
  • Risk Management Solutions (RMS) has released the “RMS Infectious Disease Model”, the first commercially available probabilistic model for assessing the risk of influenza pandemics across multiple countries.