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  • Moody's has said that its downgrade today (24 August) of the Japan Government Bond (JGB) rating to Aa3 from Aa2 will not directly affect the Aa insurance financial strength (IFS) ratings of three Japanese P&C insurers.
  • Lloyd's (re)insurer Hardy is likely to come under intense scrutiny when it releases its half-year results before markets open tomorrow (25 August)
  • Shares in Admiral plummeted today (24 August) as investors fear that the UK motor insurer is finally being caught up in the claims inflation that has bedevilled its competitors
  • The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is on watch for potential claims as Hurricane Irene passes through the region
  • US P&C insurers are still maintaining adequate loss reserves even though their level has deteriorated moderately, according to a report from ratings agency Fitch
  • Omega's shares have lost 40 percent of their value on the London Stock Exchange since Canopius first approached its fellow Lloyd's (re)insurer about a possible merger, and there is still little sign that a deal will be done
  • Australian insurer Suncorp has succeeded in salvaging a full-year profit for the 12 months to 30 June despite incurring almost A$4bn of gross natural catastrophe claims
  • Irene, the first hurricane of the 2011 US wind season, is expected to miss Florida but hit North Carolina as a category 3 storm over the weekend, according to the latest forecast from the National Hurricane Center.
  • US property & casualty insurers have taken $27bn of pre-tax net catastrophe losses in the first half of 2011, already surpassing the total for the whole of last year, according to AM Best.
  • The number of Bermudian insurance start-ups has increased by nearly a third in 2011 thanks to a spike in the number of special purpose insurers set up after the run of insured natural disasters early in the year.