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  • In what was a relatively uneventful month, world's largest insurer AIG continued to play catch-up with the Securities and Exchange Commission (SEC), delivering its first quarter 2005 results on 27 June.
  • Pike River Coal, the operator of the New Zealand mine that exploded and killed 29 men, has NZ$100mn of material damage and business interruption insurance cover.
  • Bermudian reinsurer Validus is in advanced takeover talks with privately held class of 2005 reinsurer Ariel, The Insurance Insider revealed last week.
  • Island Heritage Holdings Ltd, the Cayman Islands-based insurer that is controlled by Flagstone Re has appointed Garth Macdonald as CEO.
  • Arthur J Gallagher & Co has acquired Singapore-based broking house ITI Solutions for an undisclosed consideration
  • Hardy Underwriting has pressed on with its share buyback programme after the Japanese earthquake and tsunami that struck last week
  • Standard & Poor’s (S&P) was the first rating agency to respond to news of the proposed reinsurance deal between Equitas and Berkshire Hathaway by signaling the possibility of an upgrade in Lloyd’s financial strength rating.
  • Although reinsurance rates have continued to soften, the evidence at mid-year renewals is that the downward trend is not uniform, according to world’s second largest broker Aon.
  • Lloyd’s-backed electronic data transfer system Kinnect announced today that Hiscox and Liberty Syndicates have pledged their support for the project and “will sign contracts shortly”.
  • Willis has confirmed that it is not being investigated by the City of London Police over allegations of wrongdoing relating to Indonesian energy business.