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  • Reinsurance rate increases at 1/1 renewals have been relatively modest, caused in no small part by a relatively small depreciation in industry capital, which has helped to contain price rises...
  • American International Group (AIG) and the Federal Reserve Bank of New York (FRBNY) have bought an additional $16bn of multi-sector collateralised debt obligations...
  • XL Capital's competitive position has "diminished" because of the enervating effect of the earnings and capital charges that have overshadowed the Bermudian (re)insurer in the past few years, according to ratings agency Standard & Poor's (S&P).
  • Three Japanese non-life insurers Aioi Insurance, Mitsui Sumitomo, and Nissay Dowa are in talks to create Japan’s largest non-life insurer, according to a report from Bloomberg citing two sources close to the situation.
  • US property & casualty (P&C) insurers saw net income for the first three quarters of 2008 fall by 85 percent to $7.3bn, with an underwriting loss of $10.9bn, according to a report by rating agency AM Best.
  • The upstream energy market is experiencing rate hardening across all geographic areas and coverage lines, according to the latest analysis from wholesale broker Lloyd & Partners, which suggests that proportional reinsurance will also benefit in 2009...
  • A study from global reinsurer Munich Re has placed 2008 as the third worst year on record for economic losses from natural catastrophes (nat cat).
  • Three Japanese non-life insurers Aioi Insurance, Mitsui Sumitomo, and Nissay Dowa are in talks to create Japan’s largest non-life insurer, according to a report from Bloomberg citing two sources close to the situation.
  • American International Group (AIG) and the Federal Reserve Bank of New York (FRBNY) have bought an additional $16bn of multi-sector collateralised debt obligations (multi-sector CDOs) on which AIG’s financial products subsidiary wrote credit default swaps
  • The Hartford Financial Services Group, has had the A+ financial strength ratings of its subsidiaries removed from review with negative implications and affirmed by AM Best, albeit with a negative outlook.