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  • Japanese trading house Itochu has concluded a deal with Lloyd's carrier Antares to support the underwriting of Syndicate 1274.
  • Legislation to increase the borrowing authority of the National Flood Insurance Program (NFIP) by $9.7bn has been passed by the US House of Representatives and is now expected to clear the Senate later today before being signed into law by President Obama.
  • With so much background noise and potentially conflicting information being put out at this important time in the reinsurance calendar, we at The Insurance Insider thought that it would be a valuable exercise to compile the key 'takeaways' for the 1 January 2013 renewals season.
  • With so much background noise and potentially conflicting information being put out at this important time in the reinsurance calendar, we at thought that it would be a valuable exercise to compile the key ‘takeaways' for the 1 January 2013 renewals season
  • Deepwater Horizon drilling contractor Transocean reached agreement with the US authorities to pay a $1.4bn fine for its role in the 2010 disaster.
  • Third party capital pioneer RenaissanceRe has written $185mn of collateralised limit through Upsilon Re II, the latest incarnation of its retro sidecar.
  • Record reinsurance supply that continues to outstrip demand is dictating the fundamental dynamics of the market, according to broker Aon Benfield.
  • Australasian insurance giant IAG has once again increased the size of its catastrophe treaty, with the 2013 programme now providing it with protection for a A$5bn ground-up loss.
  • The US needs to take a more robust approach to storm surge, global reinsurer Munich Re argued as it released figures showing that US nat cat events dominated the 2012 industry loss tally.
  • Reinsurance pricing remained stable at 1 January, with renewals characterised by ample dedicated traditional capacity and continued new supply from capital market sources, according to global reinsurance broker Guy Carpenter