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  • Bermudian (re)insurer Axis has declared post-tax net losses of $300mn from Superstorm Sandy, with London-listed Catlin estimating a net, pre-tax loss of $200mn
  • Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers
  • Pension Insurance Corporation (PIC) has reinsured yet another tranche of longevity risk with Munich Re covering liabilities worth £400mn.
  • With reinsurers piling on the pressure following major losses to the International Group (IG) reinsurance programme, protection and indemnity (P&I) clubs may choose to increase their attachment points at the next renewal in order to offset premium increases, according to Willis Global Marine's annual P&I review, released last week.
  • White Mountains' specialist run-off acquisition arm has agreed to buy a third American International Group (AIG) unit in six months as the Bermudian continues to make its presence felt in the legacy sector.
  • Bermudian (re)insurer Argo has awarded Shelbourne the contract to provide a whole account quota share for the prior-year reserves on its Lloyd's Syndicate 1200.
  • Global broker Aon has answered a complaint brought by a former employee that sought to free him from his non-solicitation agreement by arguing that the court should not provide injunctive relief.
  • The UK Competition Commission (CC) is to focus its investigation into private motor insurance on the moral hazard of separating cost liability from cost control, which can unfairly push up insurance rates.
  • R&Q Reinsurance Company has accused Sentry Insurance of providing late notification of underlying asbestos-related and fire losses on two facultative reinsurance contracts.
  • A UK appeals court has refused to allow insurers of a US industrial firm to use an English court to instruct a Pennsylvania district judge in an asbestos-related legal dispute that spans the UK and US.