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  • (Re)insurance group Alterra has announced it has amalgamated its Bermuda subsidiaries, Alterra Insurance and Harbor Point Re, continuing the merger process that began in May when Max Capital and Harbor Point came together to form the new group.
  • Willis's Indian joint venture has been stripped of its licence to broker insurance after being found to have breached regulations on disclosure and internal controls.
  • UK watchdog the Financial Services Authority (FSA) has appointed Margaret Cole to its board as managing director of enforcement and financial crime.
  • US hedge fund ValueAct Capital has now built a 5 percent stake in Willis Group, regulatory filings show.
  • North Atlantic Tropical Storm Hermine - the eighth named storm of the season - has made landfall in north-eastern Mexico and crossed the Rio Grande, with sustained storm force winds occurring over portions of the Texas Deep South.
  • Insured losses from the New Zealand earthquake could reach $2 to 4.5bn, modelling firm AIR Worldwide estimates.
  • CNA Financial Corp last week (31 August) completed its transfer of asbestos and environmental pollution liabilities to Berkshire Hathaway - a deal that provides it with up to $4bn of long-tail adverse development cover.
  • Minster Insurance, the solvent scheme of arrangement sanctioned in the UK in March, has been granted Chapter 15 relief that prevents legal action against the scheme by US policyholders, The Insurance Insider understands.
  • The outlook on Glacier Re's 2008 Nelson Re catastrophe bond has been downgraded after the Swiss reinsurer placed its business into run-off late last month.
  • Insurable damages from Typhoon Kompasu could range from $500mn to $2bn in South Korea, according to modelling firm Eqecat.