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  • The fall this year in commercial property and casualty line premiums slowed in the third quarter but renewal rates continued to drop by an average of 5.2 percent, according to the Council of Insurance Agents & Brokers' (CIAB) quarterly survey.
  • The Deepwater Horizon oil spill has given the under-appreciated insurance industry a chance to prove its value, Stephen Catlin argued at an Insurance Institute of London lecture last week.
  • Goldman Sachs is mulling the redemption of $5bn of preference shares that Berkshire Hathaway purchased days after Lehman Brothers had collapsed in September 2008, according to The Wall Street Journal.
  • Rating agency AM Best has lifted its "under review" status, while holding its negative outlook, on troubled Canadian motor insurer Kingsway Financial Services (KFS) as the latter battles to deleverage its balance sheet.
  • A (re)insurer's domicile is not the key to its success with market access far more important for securing new business, Lloyd's performance tsar Tom Bolt told reinsurers at Baden-Baden yesterday (October 24).
  • US and international specialty property and casualty (P&C) insurer Travelers reported a 9.6 percent year-on-year rise in pre-tax net income for the third quarter to $1.005bn.
  • Property and casualty (P&C) insurer Chubb reported solid third-quarter results as lower-than-expected catastrophe losses allowed the firm to lift its full-year operating income per share forecasts. 
  • Platinum Underwriters more than offset a $28.5mn hit from the earthquake in New Zealand with third-quarter reserve releases, but booked a 14 percent year-on-year drop in net income for the period to $93.7mn on sharply falling premiums.
  • The news that a PWS executive pleaded guilty to charges of bribery last week is proof that the law of the land will catch up with wrongdoers eventually - even with a Serious Fraud Office described by a former senior public prosecutor to The Insurance Insider as "unfit for purpose".
  • It is late October and time for underwriters and brokers gathering in Colorado Springs and Baden Baden to go through the motions as they prepare to argue the finer points of renewal pricing and terms and conditions in a falling market.