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  • Hardy Underwriting took the highest proportional loss on the New Zealand earthquake of the international reinsurers to report to date, with its £10mn hit representing nearly 7 percent of its mid-year shareholder equity.
  • Last autumn's record hurricane losses have spurred a sea change in approaches to underwriting catastrophe risk and the use of modelling techniques, said panellists at a market briefing hosted by The Insurance Insider in London last Friday (5 May).
  • Global reinsurer Scor has increased the amount of event-driven contingent capital it can draw on following large natural catastrophe losses to EUR150mn, having triggered the first EUR75mn of its 2010 facility last year.
  • Tom Bolt, the self-effacing Texan who is head of Lloyd's underwriting standards, has seen his role change in the year since he joined the Society because of the enervating market conditions.
  • Ratings agency Moody's has affirmed its stable outlook on the UK general insurance sector as it forecasts modest real-term rate increases in most lines of business.
  • Sidecar vehicles have now raised more than $4bn in capital since they roared into fashion in the aftermath of Hurricane Katrina last year.
  • Bermudian XL Capital has reported fourth quarter earnings in line with last month’s sub-prime loss fuelled profits warning, but analysts continue to focus on uncertainty surrounding the troubled (re)insurer.
  • The Association of British Insurers (ABI) has welcomed UK Justice Secretary Jack Straw's recommendation last month that pleural plaques alone does not require compensation.
  • Fabrice Desnos, CEO of Credit insurance specialist Euler Hermes UK has told The Insurance Insider that an increasing number of risks “have become uninsurable in the strictest sense” and underwriters are having to be more selective...
  • GoshawK and Alleghany - two of the most spectacular failure to occur on the Lloyd's Central Fund - are closer to being finally reinsured