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  • Costs in sterling and revenues in dollars has been the awkward position for many London-based brokers so the deteriorating pound is providing a welcome fillip.
  • US insurer Navigators Group has become the latest company to gain regulatory approval to operate in Brazil.
  • QBE Insurance Group's appetite for growth by M&A continued last week when it snapped up the Australasian business of struggling US mortgage insurer PMI Mortgage Insurance Ltd's for A$1bn.
  • Rating agency Moody's Investors Services Ltd affirmed its rating on German giant Hannover Re and its subsidiary E+S Rückversicherung but simultaneously withdrew its ratings on the companies.
  • Interbroker-dealer Evolution Markets has launched a new division for trading and structuring catastrophe derivatives following its successful entry into the weather derivatives market.
  • Bermudian reinsurer RenaissanceRe Holdings Ltd has terminated its retrocessional sidecar Starbound Reinsurance II Ltd.
  • German reinsurer Cologne Re, part of Warren Buffett's General Re group, posted first-half profits of EUR166.6mn, up from EUR129.2mn in the prior-year period, despite being hit by catastrophes in Europe and Australia.
  • Chinese insurer Ping An Insurance reported a 2 percent drop in its half-year profits with a rise in premium offset by a decline in its investment income as the company warned of possible further credit crunch-related losses.
  • Aon Corporation has announced the launch of a new Takaful unit, which will form part of its reinsurance arm Aon Re Global.
  • Lloyd's insurer Amlin plc has continued its strategy of acquiring interests in small UK producers with the purchase of a minority stake in TL Dallas Group Ltd.