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  • Australian insurance bodies have supported a Senate committee report that called on the federal government to reconsider increasing its spending natural disaster mitigation
  • Operating profit at German carrier Talanx increased by 11.1 percent to EUR549mn ($649mn) for the second quarter of 2017, slightly undershooting the EUR555mn consensus estimate from analysts.
  • The chaos unleashed by the UK government's decision to alter the Ogden discount rate in February has continued this week, as another round of earnings results has laid bare the impact on (re)insurers
  • Navigators has promoted Patrick Milner to become president of its NavTech unit, which underwrites upstream and downstream energy as well as a host of other technical risks.
  • Flash floods inundated parts of several US cities this week, causing millions of dollars in damage in San Antonia, Kansas City and New Orleans - where Louisiana governor John Edwards declared a state of emergency today
  • Crop Pro Insurance Services, an Iowa start-up adapting new technology and risk management methods in the crop insurance market, passed two milestones this week by raising $8mn in venture financing and obtaining federal approval to offer US-backed agricultural cover.
  • Navigators may be in line for a ratings upgrade after AM Best changed its outlook on the carrier’s operating units to positive from stable today, citing the group’s “strict underwriting discipline”.
  • Heritage chairman and CEO Bruce Lucas says the deal to buy Narragansett Bay for $250mn is a game changer for the Florida-based carrier
  • The Financial Reporting Council (FRC) has sanctioned a Deloitte actuary after he admitted to misconduct during his time working for Lloyd's motor insurer Equity Syndicate Management Limited (ESML), now ERS
  • Private equity houses and at least one other trade buyer are now circling LV= after Allianz submitted a £500mn ($649mn) bid for a 49 percent stake in the mutual's general insurance (GI) business, The Insurance Insider understands