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  • UK broker Windsor plc revealed that profits were up for an eighth consecutive year – by 9 percent to £5.07mn for the year ended 30 September 2005.
  • Stone Point Capital, the former private equity arm of MMC, has agreed terms to acquire the business of AXA Re and form a new reinsurer, Paris Re. AXA Re’s parent AXA SA will take a stake of between 5 and 10 percent in Paris Re Holdings Ltd...
  • Lloyd’s set the terms for the public issue of £500mn of tier 1 subordinated debt last week. Following a three-day investment road show, the Corporation saw its debt issue several times oversubscribed by institutional investors.
  • Bermudian insurer White Mountains posted a first quarter net loss of $9mn, compared to break-even in the first quarter of last year - a result which chairman and CEO Ray Barette described as "an okay quarter".
  • Controversial financier Andrew Regan withdrew from tabling a bid for Royal & Sun Alliance (R&SA) on Friday blaming lack of enthusiasm from the UK insurer’s management.
  • American insurer WR Berkley Corp announced a second-quarter earnings increase of 26 percent last Monday (25 July) and confidently predicted high returns into 2006.
  • US insurer Markel Corporation continued its 2003 improvement by reporting fourth quarter net income of $4.53 per diluted share compared to $2.67 in the comparable period of the previous year.
  • The liquidating trustees of collapsed Bemudian headquartered insurer Trenwick Group is suing its accountants, advisers and former directors for allegedly illegally diverting funds to ensure they were all paid.
  • US insurance giant St Paul Travelers revealed last week that it had entered into a settlement agreement with the Kemper Insurance Companies over a disastrous surety bond contract which has gone at least five times over its original estimates.
  • Doors closing after the horse has bolted? In the wake of the Australian reinsurance market crash the regulators step in. This and other news from the Asian markets.