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  • An exceptionally heavy first half for earthquakes and storms has generated a record $22bn of insured losses from natural catastrophes, according to figures compiled by Munich Re.
  • The latest research from reinsurance broker Guy Carpenter has confirmed continued symptoms of possible rating and reserving inadequacy in the US property and casualty (P&C) insurance sector.
  • UK regulator the Financial Services Authority (FSA) last week banned three insurance executives who defrauded Markel International Insurance and QBE (Europe) in 2005 while acting as coverholders for surety bond business.
  • CRC Insurance Services and Ryan Specialty Group (RSG) will lock litigating horns in April next year if a US judge agrees to a plan submitted by the former to launch charges of conspiracy and poaching against its rival.
  • Prices for commercial property and casualty (P&C) insurance are expected to have declined by an average of 4 percent at the July renewals, according to a Barclays Capital survey.
  • US insurer Liberty Mutual has accused Goldman Sachs of "recklessly disregarding" mortgage giant Fannie Mae's true financial condition and significantly overstating the value of investments in the firm.
  • The London trade credit and political risk insurance market is expecting robust recoveries from its recent run of financial crisis losses in the coming years, it emerged last week.
  • The London market is benefiting from an increase in demand for catastrophe-only lines, as local markets shun natural catastrophe risks after high losses in the first half of the year, according to international placing broker Bowring Marsh.
  • Allianz's US P&C subsidiary, Fireman's Fund Insurance Company, is to increase its asbestos and environmental risk (A&E) reserves by $301mn following a review of their adequacy.
  • The proposed solvent schemes of arrangement for the Camomile Pool companies were granted sanction by the UK High Court, The Insurance Insider revealed last week.