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  • Tax reform bolsters results but disappointment with Clarendon acquisition gives weight to the Cassandras. Hannover Re, the world’s fifth largest reinsurer, expects gross premium income to grow by 25 percent for 2000 to some €8.4bn. However, pre-tax inc
  • 2008 is likely to be the second-worst year on record for natural catastrophes, with economic losses to date of some $160bn, according to Munich Re.
  • The UK Court of Appeal has sent a sigh of relief among London market insurers after over-turning last year’s controversial GoshawK vs Tyser decision which ruled brokers were not obliged to produce documents previously shown to underwriters.
  • UK outsourcing giant Capita plc has been censured by UK regulator the Financial Services Authority (FSA) over the collapse of the Arch Cru funds.
  • In a further sign of dramatically changed supply conditions in the retro market, rates for Industry Loss Warranties (ILWs) have slumped 30 percent since 1 January 2007, according to Montpelier Re chairman and CEO Tony Taylor.
  • UK outsourcing giant Capita plc has been censured by UK regulator the Financial Services Authority (FSA) over the collapse of the Arch Cru funds
  • QBE's hugely profitable Syndicate 386 has raised its forecast results for both the 2009 and 2010 years of account.
  • Consistent profitability and predicted favourable returns have prompted rating agency Moody's to upgrade QBE's non-marine liability Limit Syndicate 386 from A- (good) to A (very good).
  • As first revealed in May's The Insurance Insider Personal Accident (PA) underwriter Paul Newson has joined Lloyd's managing agency Marketform.
  • Randall & Quilter (R&Q), the run-off acquisition and management firm, has continued its strategy of acquiring service companies with a deal to pay up to $6.9mn to acquire Bermuda-based Quest Management Services Ltd.