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  • Munich Re shares have fallen more than 11 percent this morning after the company issued a profits warning for the second quarter and full-year 2008 as its investment performance suffers amid capital markets turmoil.
  • Beazley Group posted credible half-year results this morning (25 July) as it became the first Lloyd’s insurer to report its 2008 interims.
  • The erratic pattern of Hurricane Dolly has provoked a debate amongst rival risk modelling firms over the extent of US insured losses after the storm made landfall in Texas yesterday (23 July).
  • Lloyd's insurer Amlin plc is poised to enter the US market with a representative office in Illinois taking advantage of Lloyd's admitted licence to operate in the state.
  • Bermudian reinsurers Montpelier Re Holdings Ltd and Platinum Underwriters Holdings Ltd revealed mixed results for the second quarter as favourable reserve development helped mitigate the impact of softening market conditions on the bottom line.
  • Japanese insurer Tokio Marine Holdings is set to continue on its expansionary path with a $4.7bn deal to buy non-life insurer Philadelphia Consolidated Holding Corp (PCHC) in what would be the largest US acquisition by a Japanese financial firm.
  • US insurer Allstate appears to be emerging as the only serious contender in the auction of Royal Bank of Scotland’s (RBS) insurance operations as Friday’s bid deadline draws close.
  • 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.
  • The final defendant in the cases related to illegal payments made by Milberg Weiss has pleaded guilty to a charge over tax.
  • European insurance and reinsurance trade body, the Comité Européen des Assurances (CEA) has renewed calls for an extension to regulation granting the insurance industry the ability to bypass certain competition laws.