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  • Amtrak is suing a number of insurers for failing to fully pay a bill estimated at over $504mn for losses caused by Superstorm Sandy.
  • The protection and indemnity (P&I) clubs within the International Group (IG) are aiming for an overall pool retention of $100mn on the vast reinsurance treaty they buy, according to a sector report from independent Lloyd's broker Tysers.
  • Capacity levels in the aviation hull war market stand at 175 percent, global broker Willis said last week (25 September).
  • Lloyd's last week reported a 21 percent jump in first half pre-tax profits to a five-year high of £1.67bn, as investment returns recovered to more historic levels
  • Alternative capital could take a 50 percent or greater share of global property cat limit in the future as the insurance-linked securities investor base continues to grow, according to Fermat Capital managing principal Brett Houghton.
  • Medium-sized insurance intermediaries are increasing seeking to diversify their income streams by venturing into new business areas, including employee benefits consulting, senior broking sources have told The Insurance Insider.
  • The Africa Risk Capacity (ARC) agency has revealed plans to set up a multi-year platform targeting over $1bn in issuance of African climate change catastrophe bonds over the next 30 years.
  • DCG Iris shareholders voted unanimously to wind up the closed-ended insurance-linked securities (ILS) fund during an extraordinary general meeting on 24 September.
  • Final pricing was reached for a new $500mn issuance of municipal bonds that will act as a layer of catastrophe funding for the Texas Windstorm Insurance Association (TWIA), sister publication Trading Risk reported last week
  • Technology giant IBM's UK pension scheme committed $50mn to invest in Nephila Capital's Iron Catastrophe Fund at the start of this year, according to its most recent annual report.