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  • Rates have fallen by up to 30 percent in the international construction and P&C insurance markets due to overcapacity, benign losses and cheaper reinsurance over the first half of the year, according to Willis.
  • Downstream energy underwriters could face a $60mn-$240mn loss after a fire and explosion at a petrochemical plant operated by Thai refiner IRPC, sister title Inside FAC reported last week.
  • Berkshire Hathaway has continued to show a strong appetite for assuming long-tail US liabilities with the giant Liberty Mutual adverse development cover announced last week (17 July).
  • Fast-growing Florida-based homeowners' insurer Federated National is set to launch a new P&C carrier in the state in a joint venture with Canadian bank CA Bancorp and reinsurer Transatlantic Re.
  • (Re)insurance executives Joe King, Enda McDonnell and Adrian Ryan have completed their 100 percent buyout of Florida and Texas insurer Cypress Insurance Group (CIG) for $63mn.
  • Simon Smith, Skuld's executive vice president for group business development, has resigned from the Norway-based marine insurance group, The Insurance Insider can reveal.
  • Operating profits at independent broker Price Forbes soared by 88 percent to £9.01mn ($15.4mn) in calendar year 2013.
  • Head of liability David Jones and senior underwriter Helen Beamish have left AmTrust at Lloyd's for the nascent Lloyd's underwriter Acappella, The Insurance Insider revealed last week.
  • The aviation war market is waiting anxiously on the conclusion of a week of fighting at Tripoli Airport in Libya, which has placed $440mn of limit in danger.
  • The rapid and long-term softening that has plagued the aviation all-risk market finally looks set to come to an end in the wake of the MH17 disaster, market sources predict.