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  • Guy Carpenter has become the latest reinsurance broker to launch an index-based property catastrophe reinsurance product as an alternative to traditional risk transfer.
  • Ark Syndicate 4020 has become the latest start-up to gain Lloyd’s approval, with 2007 stamp capacity of £114mn and backing led by Jeff Greenberg’s Aquiline Capital Partners LLC.
  • PXRE Group Ltd CEO and president Jeff Radke will leave the reinsurer on completion of its reverse merger with US insurer Argonaut Group, the company has revealed in a filing with the Securities & Exchange Commission.
  • Ark Syndicate 4020 has become the latest start-up to gain Lloyd’s approval, with 2007 stamp capacity of £114mn and backing led by Jeff Greenberg’s Aquiline Capital Partners LLC.
  • “Class of 2005” Bermudian reinsurer Validus Holdings Ltd has bolstered funds as it announced it has entered into credit agreements totalling $700mn with a syndicate of lenders.
  • According to reports in the Financial Times Deutschland last week, German giant Munich Re will record a 2006 loss in its North American business primarily as a result of legacy charges from asbestos claims.
  • After moves by Florida lawmakers to effectively nationalise the state’s hurricane catastrophe fund in January, political momentum appears to be growing behind proposals to establish a nationwide catastrophe reinsurance programme in the US tied to cuts in
  • After announcing record 2006 profits, Hannover Re is planning growth in its US property catastrophe business as it redeploys capital following the $800mn sale of its Praetorian subsidiary to QBE Insurance Group Ltd.
  • Kiln plc last week became the latest Lloyd's company to announce plans to redomicile in Bermuda and launch an insurer on the island.
  • Novae Group plc continued its turnaround as it announced 2006 figures in line with expectations and a continued slowing of reserve deterioration.