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  • Benfield Group Ltd posted flat trading profits and a slide in revenue last week while outlining a strategy to grow its primary operations in response to the turmoil facing the US insurance industry.
  • Bermudian firms PartnerRe and RenaissanceRe have announced combined writedowns of more than $200mn from their stakes in financial guarantee reinsurer Channel Re.
  • The notional value of the global weather derivatives market has tripled in three years to $32bn for 2007-8 and is expected to see 30 percent annual growth "for the next several years", according to a report from the World Economic Forum (WEF).
  • Rapprochement for AIG and Greenberg; Sullivan nets $47mn pay-off; Marsh receives Qatari licence; Enstar shares fall; Paris Re RISC ratings affirmed; AWAC deal could net Darwin chief $9mn; Ariel Re appoints new chairman
  • Last minute negotiating between Benfield chief executive Grahame Chilton and broking giant MMC saw the reinsurance specialist reject an increased 360p a share offer from the New York headquartered firm in favour of Aon's all cash offer.
  • Silverstein and Swiss Re posturing continues but patience wears thin The war of words between parties in the World Trade Center (WTC) insurance dispute continues to rage, despite the growing clamour for resolution of costly legal proceedings that conti
  • Germany’s Hannover Re announced a largely unchanged set of interim results for the first half of 2003.
  • Willis Group is likely to face significant regulatory hurdles if it is to be successful in concluding a possible takeover of its larger rival Marsh & McLennan (MMC).
  • South African broker Alexander Forbes saws its shares plummet by as much as 11 percent last week as it warned its year-end results would be lower than expected because of reduced earnings in its UK operations.
  • Bermudian insurer plans to reduce its Lloyd’s capacity by almost a third to £652mn. ACE, one of the largest capital providers in Lloyd’s, is considering reducing its 2003 capacity by almost £300mn to £652mn.