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  • US property and casualty (P&C) insurance rates were down 14 percent on a composite basis in February, with rates in the worst-hit sector, commercial property, falling 17 percent in the period, according to US insurance aggregator MarketScout.
  • Aspen Re has become the first Bermudian reinsurer to implement electronic accounting and settlement (A&S).
  • Mirroring the aviation sector, an excess of capacity together with low losses are driving premium rates downwards, according to Aon's Aerospace Insurance Market Review.
  • Wall Street banks could lose a further $325bn in capital due to deteriorating sub-prime US mortgages in the face of a "systemic margin call", according to JPMorgan.
  • Lloyd's has approved Syndicate 2008 to write reinsurance to close (RITC) business, with the Shelbourne Syndicate Services Ltd (SSSL) managed vehicle already closing four open year syndicates with gross insurance reserves of around $455mn.
  • Brit Insurance Holdings said it was "business as usual" this morning after the UK insurer posted £62.5mn of net reserves for sub-prime related liability claims.
  • Ironshore Inc is carrying out due diligence on Lloyd's insurer Heritage Underwriting Agency after signing a non-disclosure agreement (NDA), our sister publication The Insurance Insider revealed today.
  • A significant reduction in the UK's run-off market has driven a EUR2bn decrease across Europe, according to a recent survey.
  • UK takaful start-up finally poised for launch; Amlin: Holt will return; S&P boosts Novae over mooted legacy spin-off; Omega maintains profit record; Marine in Aon job cuts spotlight...
  • A US jury has returned a verdict of guilty on all counts in the trial of Gen Re and American International Group (AIG) executives over a sham $500mn finite reinsurance contract between the two companies.