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  • (Re)insurance consultancy, Axiom, has launched a new claims management service to enable reinsurers to respond effectively in the wake of a major catastrophe.
  • The (re)insurance industry has begun to feel the shockwaves from the sub-prime crisis as management liability claims trickle into the market.
  • Lloyd's insurer Omega Insurance Holdings looks set to continue the recent trend for sparkling interims when the specialist short-tail (re)insurer unveils its half-year results tomorrow (18 September).
  • Shares in troubled UK lender Northern Rock were in freefall today amid a run on the bank as fears continued over its ability to survive the ongoing US sub-prime triggered credit crunch.
  • A new £125mn capacity syndicate headed by WürttUK managing director Stephen Redmond is at the final stages of seeking approval from Lloyd’s franchise performance directorate, Insider Week can reveal.
  • Lloyd’s insurer Novae Group plc’s investment performance has helped the firm beat analysts’ forecasts and post a 22 percent improvement in its first half pre-tax profits.
  • First half profits at Co-operative Financial Services (CFS), the banking and insurance subsidiary of the UK consumer conglomerate The Co-operative Group, tumbled by 53 percent to £38mn as a result of "exceptional weather-related losses".
  • Deutsche Bank is set to launch the trading in catastrophe event-linked futures on the Chicago Climate Futures Exchange (CCFE) later this month, it announced today (12 September).
  • Lloyd’s (re)insurer Hardy Underwriting Group plc remained upbeat despite pricing pressures as it posted a 49 percent increase in its pre-tax profits for the half-year.
  • Validus Re will take a decision shortly on whether to renew its $200mn energy sidecar Petrel Re but says it looks likely to continue with the facility.