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  • In our regular News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • Matthew Yeldham has re-emerged in EC3 as the new head of casualty at Aegis London.
  • State Farm Mutual's Florida company has had its financial strength and issuer credit ratings cut by AM Best, highlighting ongoing concerns over the fragile capitalisation of the state's insurers.
  • The growing use of management information platforms by global brokers as part of the placing process is increasingly being seen as a core source of organic revenue growth.
  • The Mineral Management Service (MMS) has said that the damage in the Gulf of Mexico caused by hurricanes Katrina and Rita could be worse than previously believed.
  • Modelling agency Risk Management Solutions (RMS) launched its new Paradex US Earthquake (PUE) parametric index for estimating insured losses from US quakes last week.
  • As the remainder of the (re)insurance industry's second quarter results trickle through in the coming weeks, a clear distinction is emerging between winners and losers in the sector against the backdrop of a soft market and the deepening credit crunch.
  • Royal Bank of Scotland's up-for-sale insurance division said operating profits leapt from £258mn to £403mn at the half-year stage although revenues were down slightly on business distributed by brokers and partners.
  • Audley Gilroy-owned legacy (re)insurer Scottish Lion has been sold to Berkshire Hathaway in an unexpected deal that closed last night, The Insurance Insider can reveal.
  • Losses in the airline hull and liability market last year were the highest on record, excluding losses arising from 9/11, Willis said in its annual report on the sector.