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  • The renewal of the flagship Lufthansa airline account last year highlights the soft market for airline insurance, The Insurance Insider can reveal.
  • Global reinsurer Hannover Re reported a EUR52mn profit for the first quarter thanks to a hefty tax refund and reserve releases, as its non-life underwriting dropped to a EUR330.9mn operating loss
  • Chubb reported an almost 20 percent year-on-year drop in second quarter net income to $419mn but managed to remain in the black - and beat the Wall Street consensus - despite the recent spate of deadly tornadoes.
  • Niche UK venture capital firm BP Marsh's profits for the year to 31 January 2010 climbed to £3mn from just £0.1mn the previous year
  • Willis Group has named Vic Krauze as president of Willis HRH, its North American retail business.
  • Scor has disclosed that during the June and July reinsurance renewals it wrote 22 percent more treaty business for P&C and specialty lines business.
  • Market experts have described Lloyd's underwriter Omega's £50mn-£125mn offer to buy-out Names' capacity on its flagship Syndicate 958 as a shrewd move to utilise its excess capital.
  • Omega Insurance Holdings confirmed last week that chairman Walter Fiederowicz is stepping down from the company, with a successor expected to be in place by 1 January 2010.
  • Reports published in the last week have again warned the insurance industry to expect increased financial losses as weather-related catastrophes worsen as a result of climate change.
  • As the market continues to soften, a divide is emerging among European reinsurers, with stronger companies unencumbered by recent problems outpacing their peers, according to Benfield’s latest quarterly report on the sector.