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  • Bermudian (re)insurer Validus Holdings will make its debut on the New York Stock Exchange today (25 July) with shares priced at $22, below the $24-26 range it set at the beginning of the month.
  • French (re)insurer SCOR posted a third quarter profit aided by a moderate impact from natural catastrophes this year and healthy capital gains of EUR48mn.
  • Bermudian (re)insurer XL Capital last week announced its entry into primary casualty for US corporations as part of its large account global P&C business.
  • US legal industry takes umbrage, while impressive earnings questioned February was a memorable month for AIG and its legendary patriarch Hank Greenberg but not all for the right reasons. It started off well, as the Group revealed a “record” 68 percent
  • Lloyd’s insurer Wellington Underwriting plc has completed its search to replace retiring chief executive Julian Avery by continuing the trend of London market companies appointing investment bankers.
  • Bermudian giant XL Capital reported late yesterday (26 July) that it had almost trebled its second quarter net income to $377.1mn, up from $135.9mn in the prior-year period.
  • The UK insurance outsourcing company Rubicon Corporation has appointed Kroll Corporate Advisory & Restructuring Group as administrators after experiencing trading difficulties.
  • Premiums for US commercial property insurance have fallen by an average of 10 percent in the past year, according to broker Aon's first US property report for 2004.
  • Allied World chose not to issue a direct response to the latest assault from Validus in the battle for Transatlantic as it booked solid net profits of $93.8mn for the second quarter that helped keep it in the black for the first half of the year.
  • Aon Ltd is set to announce a landmark £230mn+ deal to outsource its entire back office Client Operations division which could eventually provide the framework for a new London market broker process platform, The Insurance Insider can exclusively reveal.