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  • A relatively benign third quarter for catastrophe losses at RenaissanceRe was overshadowed by the impact of capital markets volatility on its investment portfolio that contributed to a 76 percent fall in net profits from $204.8mn to $49.3mn.
  • AIG has continued its repayment the American taxpayer with another $972mn that takes the US Treasury's remaining investment in the bailed out insurance giant to $50bn.
  • XL Capital became the latest (re)insurer to highlight improving rates as it booked a fall in Q3 net profits to $42.4mn from $77.5mn in the prior-year period.
  • The regulatory regime in the US is likely to be deemed equivalent to the Solvency II requirements by the EU because of its long-standing use of risk-based capital requirements, according to Fitch.
  • Alterra has confirmed that it is merging its European insurance and reinsurance underwriting companies, as first revealed by The Insurance Insider in September.
  • Howden broking group, the expansive broking arm of the London-headquartered Hyperion insurance group has announced the launch of an energy division with the hire of a team headed by sector specialist Alan Brooks from Willis group's wholesale broker Glencairn.
  • Global insurance broker Marsh has appointed David Batchelor to head its international division.
  • Claims from the crash landing of a Polish LOT airlines aircraft at Warsaw airport on Tuesday (1 November) should amount to around $20mn, according to broking sources.
  • The board of Transatlantic Re has been given until Wednesday (2 November) morning to accept an offer from Validus or face the resumption of hostilities, The Insurance Insider understands.
  • Parametric insurance will make it easier for public organisations to buy insurance against catastrophes, according to Cooper Gay's Latin America CEO Steve Jackson.