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  • China Reinsurance is planning to raise up to $2.6bn in an IPO later this year.
  • Bermudian (re)insurer Validus regained traction in the second quarter, returning a positive result after taking a heavy $306mn hit in the first three months on the Chilean earthquake and other cat losses.
  • A New York federal judge has approved a $13.5mn settlement to the securities class action launched by disaffected RenaissanceRe shareholders against the firm.
  • London Stock Exchange quoted reinsurer Alea Group Holdings has removed its group underwriting director and US operation chief executive in a management reshuffle weeks before it is due to publish its 2004 results.
  • New Marsh CEO Dan Glaser wasted little time in stamping his authority on the broker as the MMC subsidiary made its second management reshuffle in a matter of months as part of an organisational restructure to "improve efficiencies".
  • Bermudian (re)insurer Validus Holdings Ltd has increased the size of its pending initial public offering (IPO) to $350mn following its $382.2mn acquisition of Lloyd’s based Talbot Underwriting Holdings.
  • Long-time Fairfax bears, analysts John Gwynn and Matthew Cantrell of Morgan Keegan, have again mauled the company in their latest research notes. In two recent notes the analysts raise a number of points that will make uncomfortable reading for the...
  • US (re)insurer Liberty Mutual Group will continue searching for takeover targets despite its $2.7bn acquisition of Ohio Casualty Corp, according to its president and CEO, Edmund Kelly.
  • Onshore US cat losses mounted to $4.4bn in Q2, according to figures from Property Claim Services, with the figure now above the long-term average of $3.6bn for the fourth year out of the last five.
  • Japan’s improving economy has sparked an upgrade in the financial strength and debt ratings of Tokio Marine & Nichido Fire Insurance Co Ltd from AA- to AA.