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  • As reinsurance brokers and underwriters await the end of a so far sterile hurricane season to start serious negotiations over 1/1 renewals, warning signs of growing momentum behind the softening market continue.
  • Reinsurance spin-off Aspen Re has appointed bankers Credit Suisse First Boston and Goldman Sachs to advise on a possible $1bn+ US listing, according to sources.
  • Lloyd's and Bermudian (re)insurers are selling Industry Loss Warranty (ILW) capacity as rates surge on the back of a hardening traditional market and a retro crunch caused by the withdrawal of hedge fund capacity.
  • Lloyd’s (re)insurer Chaucer has written to Names increasing the offer for unaligned 2004 capacity on its proposed merged Syndicate 1084 from 7.5p to 11p per £1.
  • The UK's Chartered Insurance Institute (CII) has abandoned plans for a merger with the Australian and New Zealand Institute of Insurance and Finance (ANZIF) after previously undisclosed revenue losses of A$1.5mn came to light.
  • Lloyd's (re)insurer Amlin leads the cover on the passenger plane that crashed in the Heilongjiang province of China earlier today, The Insurance Insider has learnt.
  • The elusive value of acquisitive intermediary Towergate Partnership could be starting to crystallise after reports that executive chairman Peter Cullum is in talks to sell a 25 percent stake to a private equity group.
  • Acquisitive consolidator Giles Insurance Brokers Ltd is being purchased for £185mn by private-equity group Charterhouse Capital Partners, according to reports.
  • Electronic trading platform RI3K has launched a free-to-use ACORD data and documents service. Previously, the platform forwarded its ACORD output through 3rd party solutions, but with RI3K Data Exchange (RDX) it says xml data and documents can be passed
  • Ratings agency Standard & Poor's (S&P) has hit beleaguered Bermudian life reinsurer Scottish Re with a four notch downgrade sinking the firm deep into junk territory.