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  • US national carriers and Florida-only insurers created a surge in demand for Industry Loss Warranties (ILWs) last month, according to Jim Bryce, president and CEO of Bermudian cat specialist IPCRe.
  • Arab Insurance Group (ARIG) saw its first half net profits slide as both underwriting and investment income deteriorated.
  • US insurer HCC Holdings, its former CEO Stephen Way, and its former General Counsel Christopher Martin have finally reached a settlement with the US regulatory authorities relating to a dispute alleging violations over stock-options backdating.
  • The expansive Japanese insurer Tokio Marine & Nichido Fire Insurance Co's acquisition of non-life insurer Philadelphia Consolidated Holding Corp (PCHC) will help the company to strengthen its overseas property and casualty (P&C) businesses...
  • The head of Novae Syndicate 2007 specie and cargo units, Keith Nichols, is leaving after just two months at the firm, The Insurance Insider understands.
  • Flood damage and business interruption losses are likely to make up the largest proportion of insured losses after the first hurricane of the 2008 season hit the North American mainland.
  • Aon Middle East has been authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) to operate in Qatar.
  • Dutch insurance giant AEGON has closed a £250mn value in-force (VIF) life insurance securitisation with Barclays Capital that unlocks cash tied up in its primary UK subsidiary, Scottish Equitable.
  • US reinsurance broker Towers Perrin has launched a capital markets operation specialising in risk-linked securities, retirement risk transfer transactions and asset risk management services.
  • Aon Risk Services called on the New York attorney general and Department of Insurance to introduce greater transparency and consent standards for all insurance brokers operating in New York.