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  • Total declared insured losses from the UK floods last December are set to pass the £1bn ($1.4bn) mark as the Q4 and full-year results season continues apace.
  • Shares in Florida homeowners' insurers fell sharply at the end of last week as top-line growth pressures combined with the prospect of Q1 weather losses denting already deteriorating combined ratios.
  • Floridian insurer Safepoint is set to close its second Manatee Re cat bond at $95mn but has dropped plans to issue a layer of notes that would have run alongside its cover from the Florida Hurricane Catastrophe Fund (FHCF), sister publication Trading Risk understands.
  • Securis Investment Partners has launched its first Ucits-compliant cat bond fund, continuing the trend for new offerings focused on the liquid side of the market.
  • Retro manager Markel Catco will record an uplift to its returns in February after the firm released a portion of its side pocket reserves set aside for potential losses from the UK floods and US convective storms.
  • Existing cyber liability policies in the market will not respond to property damage or bodily injury claims, according to speakers at the Reactions Cyber Risk Forum in New York last week.
  • John Doyle has resurfaced as president of broking giant Marsh just three months after leaving American International Group (AIG) as part of the insurer's senior management cull.
  • CTA appoints Middle East head; Flood Re for SMEs?; Min'an Insurance rebrands; PICC Re gets green light; AM Best's Sutherland dies; Brexit GDP warning; Sompo Canopius job losses; Perils revises Desmond estimate; Tech disruption imminent; Swiss Re's $1bn buyback; Barbican Protect hires casualty head; Integro appoints duo; Antares boosts marine team; Philipps gets Mitsui nod; Citadel buys Cedars; Kleiner to lead American Modern.
  • South Florida policyholders face property insurance rate rises of 10 percent annually for years to come if legislative reforms aren't made to address water losses that have reached crisis levels, according to state-backed insurer Citizens.
  • Former Zurich CEO Martin Senn had his pay slashed by SwF2.4mn ($2.39mn) in 2015 after the firm missed key performance targets.