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  • Moody’s Investors Service has put $67.5mn of the notes on Glacier Re’s $180bn Nelson Re cat bond on review for a possible downgrade after the (re)insurer significantly upped its Hurricane Ike loss estimates.
  • Key parties in the London Market, including the London Market Association (LMA), the G6 and Xchanging have welcomed Lloyd's CEO Richard Ward's contract documentation initiative, which was announced last Monday (22 May).
  • Maurice "Hank" Greenberg and Howard Smith have buried the hatchet and settled their long-running legal battles with former employer American International Group (AIG).
  • Lehman Bros has been given the green light by the Financial Services Authority to begin trading at its subsidiary Libero Ventures Ltd - a new unit that aims to improve capital efficiency for (re)insurers by shifting exposures to the capital markets.
  • BP Marsh & Partners plc, the London-based investor in specialist insurance and other financial services related companies, has listed on the Stock Exchange’s Alternative Investment Market this morning (2 February).
  • Tropical storm Halong dropped three feet (91cm) of rain when it made landfall in Japan on Shikoku Island on 10 August, causing the evacuation of half a million people.
  • A group of leading UK insurers have vowed to continue their fight to overturn a Scottish law that grants sufferers of pleural plaques the right to claim compensation, after a Scottish court upheld the law in a ruling last week (12 April).
  • Ratings agency Standard & Poor's has responded to American International Group's (AIG) admission that it faces far greater losses from its exposure to the continuing credit crisis by placing the ratings of the firm on Negative outlook.
  • Belgian insurance group Ethias has closed the sale of its Luxembourg-based reinsurance unit Belré to US investment bank Cowen Group, according to local media reports.
  • The tornadoes that wrought destruction across parts of the US could cost insurers up to $6bn, according to modelling agency RMS