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  • Two of the cat bonds in the latest crop of new issuance have demonstrated the potential for divergent modelling views to emerge on indemnity offerings.
  • French reinsurer SCOR enjoyed a 6.3 percent bounce in its shares on Friday after the ratings agency AM Best affirmed its BB+ financial strength rating with positive outlook while also upgrading some of the reinsurer’s senior and subordinated debt instrume
  • Broker Marsh has received approval from the respective regulatory authorities to establish protected cell captive (PCC) insurance facilities in Washington and the Isle of Man.
  • German run-off (re)insurer Darag has bought the legacy carrier Hanseatica Rückversicherungs-AG in its first acquisition since receiving a EUR60mn capital injection last month
  • Post-9/11 (re)insurer Endurance reported a 2005 net loss of $220.5mn, or $3.60 a share, a reversal of the $355.6mn, or $5.28 per share net profit made in the previous year, as it shared the hurricane-hit woes of its compatriots.
  • A New York court has ruled against Aon in its ongoing poaching case with Alliant. Aon accused the rival firm and former senior Aon construction broking executive Michael Cusack of breaching an injunction that bars Alliant from poaching Aon employees and clients.
  • Berkshire Hathaway paid out $2.6bn in catastrophe claims in 2011 as its downsizing kept cat losses well short of the unadjusted $3.4bn that the group incurred in 2005.
  • Members of a personal accident (PA) team dismissed by Imagine Group's Danish Re after handing in their notice are suing the reinsurer for unfair dismissal.
  • Global reinsurer Scor has received approval in principle to start a new £75mn Lloyd's syndicate for the 2011 year at 1 January, a move first revealed in September by The Insurance Insider.
  • The start of the much anticipated BP Deepwater Horizon trial has been delayed by one week to allow the oil giant more time to reach an agreement with plaintiffs impacted by the 2010 disaster