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  • A New York judge has rejected bids to terminate a lawsuit between run-off and live services business Tawa and Argonaut Group subsidiary PXRE, which is accused of failing to fully disclose its 9/11 liabilities before being sold to Tawa in 2007.
  • The California Earthquake Authority (CEA) has launched its latest $150mn Embarcadero Re cat bond in the second transaction to come to market during the 2012 North Atlantic hurricane season
  • Given the context of chronic uncertainty in Europe, the quoted London market (re)insurers have a useful platform from which to woo investors as they unveil their first-half results over the coming month.
  • Despite the likely near-term strength of London (re)insurers' stock prices due to probable strong H1 earnings, one analyst warned clients last week that now was the time to become bearish on the London market.
  • Beazley will consider returning some of its growing mountain of surplus capital to shareholders through a special dividend if it is unable to put it to work in underwriting, CEO Andrew Horton has said.
  • Demand for industry loss warranties (ILW) has fallen because cedants were able to source ample indemnity capacity at the mid-year renewals.
  • With the mid-year reinsurance renewals disappointing underwriters and investors alike, attention is now focused on primary insurers for signs that the much heralded turn in US commercial pricing is made of stronger stuff.
  • After an unusually benign first half of the year for catastrophic loss events, the leading US primary insurers posted higher loss burdens than most analysts were expecting.
  • Syndicate 2526 needed the backing of a corporate partner to grow to a viable scale and create its own managing agency, eponymous active underwriter Andy Doré told The Insurance Insider.  
  • As a record number of US farmers reportedly prepare to give up on their 2012 crop, fears are growing that insurers and reinsurers that write multi-peril crop insurance (MPCI) are set for a surge in claims that could match those seen in the worst-ever loss years for the business.