December 2007/3

Shares in reinsurance intermediary Benfield Group fell 8 percent to 279p this morning following a profits warning, despite committing to an advanced capital repatriation strategy, before recovering by late afternoon to 298.5p.

Closing prices for 2008 US cat windstorm losses leapt nearly 6 percent last Thursday on the derivatives platform Insurance Futures Exchange Services (IFEX) signalling traders think there is a greater chance of a major windstorm loss next year.