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22 May 2012

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ILW rates leap on Deepwater spill
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Marine ILW capacity dries up after Deepwater spill

4 August 2010

Underwriters looking to top up protection for marine and energy portfolios in the wake of the Deepwater Horizon disaster are struggling to find affordable cover at the lower end of the industry loss warranties (ILW) market.

Buying conditions are not likely to have been helped by Flagstone Re reporting a $25mn ILW loss from the oil spill as it released its Q2 results. Flagstone's sidecar Mont Fort Re picked up 91 percent of the loss.

According to sources, sellers of...

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