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  • As Hurricane Dean bears down on the Yucatan Peninsula of Mexico, there are few signs of trading around industry loss warranties (ILWs) and the other hedging strategies typically employed in anticipation of a major hurricane loss.
  • Bermudian (re)insurer RenaissanceRe has promoted Larry Richardson to senior vice president of its strategic investments arm, Renaissance Re Ventures.
  • Montpelier Re has made progress in its new US operation as it diversifies from its roots as a Bermudian monoline reinsurer.
  • US start-up insurer SPARTA Insurance Company has been assigned an A- financial strength rating from rating agency AM Best.
  • Listed Lloyd’s insurer Hardy Underwriting Group impressed analysts after upgrading its syndicate forecasts in a “bullish” trading statement on 16 August.
  • According to reports last week, the European Commission (EC) is set to investigate the role of rating agencies over their response to the US sub-prime mortgage crisis.
  • Despite moderate price reductions, the Lloyd’s listed (re)insurer Heritage Underwriting Agency plc’s said rates are “still at very acceptable levels” in its latest syndicate forecasts.
  • The brutal uncertainty in the equity markets, together with the menacing presence of Hurricane Dean, is a reminder of the capricious nature of the (re)insurance business.
  • First half earnings at insurance giant Zurich Financial Services (ZFS) rose by a third to $2.7bn despite the firm suffering a 3.9 percent deterioration in its combined ratio in the second quarter due to UK flood losses.
  • Australian insurer QBE Insurance Group saw its share price jump 11 percent to A$30.52 today (20 August) on the back of record interim results and a surge in equity markets following last week’s sell-off.