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  • Sovereign credit risk is at the top of the list of threats to the European insurance industry, the European Insurance and Occupational Pensions Authority said in a report on the sector last week
  • The poaching dispute between US wholesale behemoth CRC and Ryan Specialty Group (RSG) is not set to reach trial until January 2012, court filings have revealed.
  • The California Earthquake Authority (CEA) board has approved a $150mn single peril cat bond that will be issued via a Bermudian reinsurer.
  • In updating earnings per share (EPS) estimates for Q2, Barclays Capital analysts said that the new figures did not factor in the potential for Japan and New Zealand quake losses to rise.
  • Outstanding cat bond capacity fell to $11.5bn in Q2 2011, marking its lowest ebb since the final quarter of 2008 at the height of the financial crisis.
  • US P&C companies remain relatively well insulated against potential credit losses on their municipal bond holdings, according to ratings agency Moody's Investors Service
  • According to Barclays Capital analyst Jay Gelb, P&C insurers' book values are expected to increase by an average of two percent in Q2 from positive mark-to-market investment gains in Treasuries, municipal bonds and investment-grade corporate bonds.
  • Despite facing the biggest Q2 catastrophe losses in over a decade, it is expected that investment mark-ups helped US-listed P&C insurers grow book value per share (BVPS) over the period.
  • The debate over what exactly did transpire at the mid-year US property cat reinsurance renewals continues to roll on, as Aon Benfield holds firm to its contrarian stance after criticism from rivals and reinsurers.
  • Capital levels in the US P&C insurance industry remained strong at the end of the first quarter of 2011 despite balance sheets being battered by high catastrophe losses, according to an AM Best report.