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  • The financial strength rating of the reinsurance arm of Lehman Brothers was downgraded last week ahead of today's announcement (Mon) that the famous Wall Street investment bank had filed for bankruptcy.
  • The catastrophe futures market traded $3.45mn of notional volume during the development of Hurricane Ike, which made US landfall as a Category 2 hurricane on Saturday (13 September).
  • Establishing a presence at Lloyd's is a possibility for Bermudian (re)insurer Endurance Specialty Holdings Ltd, according to CEO Ken LeStrange.
  • Lloyd's received a boost in its ongoing legal battle with refusenik Names after the High Court granted extended civil restraint orders against them.
  • Lloyd's insurer Hardy Underwriting Bermuda Ltd has begun underwriting a book of mutual business worth around £10mn from Japanese investment bank Fintech Global Inc.
  • Fairfax Financial Holdings Ltd has made a public offer to acquire Polish reinsurer Polskie Towarzystwo Reasekuracji (Polish Re).
  • Willis has confirmed that it will resurrect the Faber & Dumas brand as an umbrella organisation for its group-owned third-party London wholesale brokers, as first revealed by The Insurance Insider.
  • A group of erstwhile American International Group Inc (AIG) executives including former chairman Maurice "Hank" Greenberg have agreed to pay $115mn to settle a shareholder derivative lawsuit over payments made to the Starr companies.
  • Lloyd's insurer Marketform Group Ltd is continuing its expansion and diversification with the hire of property underwriter Michael James, The Insurance Insider has learned.
  • American International Group's (AIG) share price has fallen a further 30 percent in pre-market trading to below $9 this morning as investors digested the collapse of Lehman Brothers this weekend amid fears that the Federal Reserve may be reluctant to step