July 2010/4

Tropical storm Bonnie - the second named storm of the season - proved to be a fizzler in the week that Weather Services International (WSI) downgraded its forecasts for the 2010 hurricane season.

"There isn't enough money in the world to clean up the Gulf of Mexico," said influential oil and gas analyst Matthew Simmons in June - which now looks to have more foresight and less hyperbole than originally intended.

Underwriters looking to top up protection for marine and energy portfolios in the wake of Deepwater Horizon are struggling to find affordable cover at the lower end of the industry loss warranties (ILW) market.

Brit Insurance and Apollo Management were embroiled in a messy insurance dispute shortly before the New York buy-out firm made an unwelcome bid for the UK insurer, it has emerged.

With a deluge of Bermudian (re)insurers unveiling second-quarter numbers over the next three days, industry analysts will be watching closely for signs that the resolve shown by Platinum Underwriters is being matched by its peers.