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  • Heightened frequency and severity of US auto claims were the driving force behind deteriorating underwriting performance at two of the largest writers of the business last week, forcing remedial action on rates to catch up with loss trends.
  • Shares in Florida insurer Heritage traded down 19 percent at the end of last week as jittery investors reacted to a more cautious outlook on growth and the filing of a $400mn shelf registration.
  • Underwriting performance for the P&C reinsurance operations of global reinsurers generally improved during the second quarter as the group benefited from another period of benign natural catastrophe loss activity.
  • Bermudian (re)insurers experienced a volatile second quarter as a number of non-cat losses dented underwriting performance.
  • The Japanese big three posted a mixed second quarter performance as profits increased at Tokio Marine and MS&AD and narrowed at Sompo Japan Nipponkoa.
  • Aegis London's head of cyber Rick Welsh and his team have left the top-quartile Lloyd's syndicate, The Insurance Insider understands.
  • Zurich ‘would cut RSA R/I'; Esure profits fall; Jago chair ; Talbot promotes Tebbutt; AJG buys Colombian broker; Canopius drives Sompo improvement; Glacier Re to buy Papiro; Barbican hires Sinisgalli; $1bn XL buyback; US rates up 1%; Munich Re targets EUR3bn; Navigators profits climb; Heritage grows; Markel falls to loss; AmTrust to buy Nationale Borg; Hannover Re raises profit target; Fishman to weigh anchor; Aviva outperforms; Advent expands; Chan-hom's $1.6bn bill
  • Endurance bought $100mn of aggregate retrocession cover to protect its portfolio as it prepared for the Montpelier Re takeover, the firm revealed on its second quarter earnings call.
  • United Insurance Holdings worked with one of its reinsurance partners to source $90mn of third-party capital to set up a captive reinsurer when it renewed its 2015 reinsurance programme.
  • The latest Bosphorus cat bond from the Turkish Catastrophe Insurance Pool (TCIP) was oversubscribed and the transaction may double in size to reach $200mn, sources told sister publication Trading Risk last week.