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  • Shares in QBE plunged 22 percent on Monday (9 December) after Australia's biggest insurer warned investors it would sink into the red this year on heavy reserve charges, goodwill write-downs, and restructuring costs in its troubled North American business.
  • QBE North America has parted company with the president of its property casualty (P&C) business Michael Scala, The Insurance Insider can reveal.
  • The UK and mainland Europe were hit by a second severe winter storm in as many months on Friday (6 December), with winds of up to 140mph disrupting transport and putting coastal areas at risk of flooding
  • Former Ascot underwriting director Jon Foley is back in an executive role in the market as head of insurance at Sciemus, The Insurance Insider can reveal
  • London-listed Randall & Quilter (R&Q) said its nascent Syndicate 1991 will double its underwriting capacity next year to £150mn following approval from Lloyd's and with the new financial support from expansive Qatari reinsurer Q-Re.
  • QBE Insurance Group, Australia's biggest risk carrier, has asked for trading in its shares to be suspended on the Sydney stock exchange pending a statement relating to its problematic North American business.
  • Loss reporting agency Perils estimated that windstorm Christian caused insured industry losses of EUR994mn ($1.36bn), making it the most expensive European windstorm since Xynthia in 2010.
  • Commercial insurance rates in the US were up 4 percent in November, matching the pace of change recorded in October, according to MarketScout's latest market barometer.
  • Bermudian speciality (re)insurer Argo Group's Argo International unit has announced the launch of a new specialty division which will be formed of its existing personal accident account and new political risk and trade credit business line.
  • UK motor insurers such as Direct Line, esure and Admiral will have their future profits dented by the imminent ban on credit hire referrals in the motor industry, according to insurance analysts at Numis Securities.