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  • Florida cat reinsurance rates are likely to fall back to 2008 levels at the key 1 June renewal date, with pricing projected to soften by 10-13 percent across most layers, fuelled by excess capacity.
  • Three cat bonds have closed in the last week taking the total 2010 issuance so far to $2bn, amid a late rush to place risk into the capital markets before the hurricane season.
  • The launch date of Long Bay Re - Catlin Group's $150mn sidecar due to IPO on AIM this week - has been delayed to next month, The Insurance Insider understands.
  • Broker Marsh placed the insurance programme for the Air India Boeing 737-800 that crashed on Saturday (22 May) and killed all but eight on board, The Insurance Insider understands.
  • There is a 30 percent chance that a weather system currently over the Atlantic will become the first named storm of the season in the next 48 hours, according to forecasters from the US National Hurricane Center.
  • Standard & Poor's (S&P) has offered a vote of confidence to Hannover Re CEO Ulrich Wallin as he moves towards the end of his first year in the job by removing the company from negative watch.
  • Hampden Underwriting swung to a pre-tax profit of £985,000 in 2009 from a loss of £85,000 a year earlier, as it shrugged off start-up costs and began to enjoy positive cash flow from its acquisition of 2006 and 2007 year underwriting capacity.
  • WR Berkley has taken further steps to build its Lloyd's platform by appointing Louise Nevill to set up the marine division of Syndicate 1967, The Insurance Insider can reveal.
  • New York-listed insurers' share prices took a hammering yesterday (20 May), as fears about contagion in the Eurozone grew and investors took fright at the prospect of the Senate approving a sweeping financial reform bill.
  • Trade credit specialist Coface looks to have recovered in the first quarter, as its insurance segment produced a net profit for the first time since the onset of the global recession.