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  • Insured losses caused by Hurricane Ike could reach as much as $25bn as the storm heads towards the US Gulf coast, according to one risk modelling firm.
  • Reinsurance veteran Vincent Redier is to chair the European Middle East and Africa (EMEA) arm of Aon Benfield Re, once the firms’ complete their merger later this year.
  • RK Harrison Insurance Brokers Ltd has confirmed the "imminent" acquisition of Lloyd's broker, Bowood Holdings Ltd.
  • Willis Re is set to unveil a new unit specialising in protection and indemnity (P&I) and marine mutual reinsurance, The Insurance Insider understands.
  • Fairfax Financial Holdings Ltd has made a public offer to acquire Polish reinsurer Polskie Towarzystwo Reasekuracji (Polish Re).
  • Omega Insurance Holdings Ltd has bucked the recent trend of profit decreases and losses shown by (re)insurers in the first half of the year after reporting a 34 percent increase in post-tax profits.
  • Swiss-based (re)insurer Glacier Re has seen net income fall by $10mn despite an 18 percent hike in gross written premiums (GWP) in the 2008 first half compared to the prior-year period.
  • There are greater opportunities for acquiring and managing run-off and distressed portfolios in the US than in the London market, according to a senior figure at recently UK-listed run-off business Randall & Quilter Investment Holdings plc (R&Q).
  • Aon Benfield Re (ABR) is set to assign Geoff Bromley and Roderick Thaler to head teams focusing on the retention of top clients following the merger of the two firms later this year, The Insurance Insider can reveal.
  • The soft traditional reinsurance markets and hard credit markets are dampening 2008 insurance linked securities (ILS) issuance, creating a "difficult and challenging market".