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  • Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007, raising questions over its rapid expansion strategy.
  • Buffett goes long on derivatives; Fairfax profits from credit bets; DIFC extends international attractions; AM Best stable on reinsurance; IRS captives tax u-turn...
  • The future for XL Capital affiliate Security Capital Assurance (SCA) looks untenable, as shares in the monoline insurance company plummeted to a 52-week low of just 67 cents.
  • Bermudian (re)insurer Max Capital Group has purchased two seasonal maximum hurricane derivative contracts for North Atlantic and Florida wind on the Chicago Mercantile Exchange (CME) which are based on the Carvill Hurricane Index (CHI).
  • Benfield has lost part of the prized Amlin reinsurance account to rivals Aon and Guy Carpenter, The Insurance Insider understands.
  • Marsh & McLennan (MMC) CEO Brian Duperreault has taken further steps to assemble his senior lieutenants around him in New York with key changes at reinsurance broking subsidiary Guy Carpenter.
  • Ariel Re's specialist Lloyd's (re)insurer Atrium Underwriting is in another dispute with the North Korean state-owned insurer, this time over a train crash claim.
  • The future is uncertain for nearly three quarters of Gallagher Re’s 250 employees following the deal worth around $40mn to sell the unit to Aon Corp.
  • A New York-based hedge fund is continuing its counterclaim against Fairfax Financial Holdings, accusing it of avoiding paying $400mn in taxes, despite a judge dismissing it from the Canadian firm's racketeering lawsuit.
  • Lloyd's brokers and underwriters will once again be allowed to invest and own each other if proposals to amend the Act governing the market are ratified later this year.