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  • The cost of reinsurance has now fallen significantly below other forms of contingent capital such as equity, debt and even carriers' own capital, a new study has found.
  • Everest Re has agreed a deal to sell its US crop business Heartland in a transaction that will also see it enter into a long-term reinsurance relationship with the buyer.
  • Second quarter operating profits fell 40 percent to $134.2mn at Everest Re as the (re)insurer revealed $123.8mn of net catastrophe losses for the period.
  • WR Berkley reported flat operating profits at $104.9mn for the second quarter of the year despite its share of significant industry catastrophe losses threatening to put pressure on the carrier’s combined ratio.
  • American Financial Group (AFG) said it will take a charge of $65mn in its second quarter results in relation to the major restructure taking place at its Lloyd’s platform, Neon Underwriting.
  • Property catastrophe specialist Icat has teamed up with fellow Lloyd's managing agency Neon to provide an additional $10mn of per-risk capacity to cat-exposed US commercial properties.
  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Shares in Allied World increased by almost 17 percent over the week after the Bermudian carrier surprised analysts and investors alike with a sterling set of second quarter results
  • American Financial Group (AFG) has finally reached agreement with National Interstate over its $32 a share bid for the commercial auto insurer after the deal was sweetened with the promise of a one-time $0.50 a share special dividend.
  • Florida mutual Sawgrass has accused its part-owner Endurance of trying to destroy its business after the John Charman-led firm threatened to sell the renewal rights of 40,000 homeowner policies to a competitor.