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  • Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007.
  • Omega Insurance Holdings Ltd Lloyd's Syndicate 958 has withstood the impact of hurricanes Katrina Wilma and Rita to post a profit for 2005, maintaining its pedigree of a pure underwriting profit in every year it has traded since its launch in 1980.
  • Warren Buffett, the chairman and CEO of Berkshire Hathaway Inc, has warned insurers that the party is over and tougher times lie ahead regardless of what the weather does this year.
  • The dramatic lowering of SCA’s rating by Standard & Poor's (S&P) last week from AAA to A- was part of a series of actions by the ratings agency on the troubled bond insurance sector, which has been beset by sub-prime related losses.
  • Robert Hiscox, a former deputy chairman of Lloyd's and one of the most strident voices in EC3, has called the reduction of only 2 percent in the Society's capacity for 2008 "disappointing".
  • Property damage from the earthquake that hit the UK on 27 February is likely to cause insured losses of between £15-30mn, according to initial estimates by Risk Management Solutions (RMS).
  • Swiss reinsurer Glacier Re continued to grow in 2007 with an increase in premiums and the launch of its first securitisation.
  • (Re)insurance broker Willis Group Holdings has extended the contract of its chairman and CEO, Joe Plumeri, until 2011 as well as making a number of changes to its senior management.
  • London market broker Glencairn dragged the 2007 earnings of parent US broker Hilb Rogal & Hobbs' (HRH) down by $0.11 per share, it was revealed last week.
  • The Association of Run-off Companies (ARC) is canvassing members over the proposed development of a capital adequacy model to help firms in run-off deal with Solvency II requirements.