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  • Interbroker-dealer Evolution Markets has launched a new division for trading and structuring catastrophe derivatives following its successful entry into the weather derivatives market.
  • 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.
  • Tropical Storm Fay is expected to reach hurricane strength after crossing western Cuba and is on track to hit Florida later today (18 August), according to forecasters at Tropical Storm Risk.
  • 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.
  • "Class of 2005" Bermudian Flagstone Reinsurance Holdings says it is planning to move into the primary market in India.
  • 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.
  • The restoration of New York as the centre of Guy Carpenter's power was reflected last week in the migration of global chief operating officer Charlie Fry to the US.
  • Risk Management Solutions (RMS) has launched new winter storm and severe convective storm models for North America to assess losses from different weather events.
  • Bermudian reinsurer RenaissanceRe Holdings Ltd has terminated its retrocessional sidecar Starbound Reinsurance II Ltd.
  • Ratings agency Standard & Poor's revised its outlook for the US commercial lines and property & casualty (P&C) sector to negative last week on the back of continued price softening and declining investment returns.