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  • The soft traditional reinsurance markets and hard credit markets are dampening 2008 insurance linked securities (ILS) issuance, creating a "difficult and challenging market".
  • Despite dire warnings from the Mayor of New Orleans and speculation that it could be on a par with 2005's hurricane Katrina, initial fears over hurricane Gustav ultimately proved to be unfounded.
  • Last month's air disaster involving a Spanair McDonnell Douglas MD-82 that crashed at Madrid airport, claiming 154 lives, has - at least temporarily - halted the decline in aviation rates at recent renewals.
  • Tough market conditions that are providing reinsurers with the "sternest possible test" of their enterprise risk management (ERM) are likely to lead to a number of rating outlook changes, according to credit agency Standard & Poor's (S&P).
  • The race to buy Travelers' long-tail run-off portfolio - Unionamerica Insurance Company Ltd - has been whittled down to the serious bidders, with at least five major players vying for the acquisition, The Insurance Insider has learnt.
  • Hiscox Ltd remains in discussions with members' agents and Lloyd's over controversial plans to launch a new syndicate backed 100 percent by its own capital to write business currently on its Names-backed Syndicate 33.
  • German reinsurer Hannover Re has supported former executive Dirk Lohmann with a $50mn investment in his new Secquaero insurance linked securities (ILS) fund, according to sources close to the deal.
  • Willis decided to resurrect one of the broking industry's famous old names with plans to re-brand London market broking subsidiary Glencairn, acquired as part of the $2.1bn Hilb Rogal & Hobbs takeover, as Faber Dumas.
  • American International Group (AIG) is considering setting up a new company in which to dump toxic assets that have so far led to more than $25bn of write-downs in its financial products division (AIGFP).
  • Last minute negotiating between Benfield chief executive Grahame Chilton and broking giant MMC saw the reinsurance specialist reject an increased 360p a share offer from the New York headquartered firm in favour of Aon's all cash offer.