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  • Reported Sandy losses have topped $10.4bn after Zurich Insurance Group and HCC Insurance unveiled preliminary estimates for the storm's impact.
  • Shortly after withdrawing a significant amount of limit from the market in its recent reinsurance restructuring, American International Group (AIG) has returned to premium-starved carriers to purchase a quota share treaty for its underperforming US casualty portfolio.
  • HCC Insurance Holdings expects fourth quarter 2012 cat losses of $30mn-$35mn after reinsurance and reinstatement premium and before tax, driven by Superstorm Sandy
  • As Bermudians go to the polls today (17 December) in the general election, the island's (re)insurance community is adamant it will be business as usual, whatever the outcome
  • The UK Financial Services Authority (FSA) has ordered independent financial advisers (IFAs) involved in the alleged mis-selling of Arch Cru funds to ask their clients whether they want to have their case reviewed for potential redress
  • Gard has had its financial strength rating upgraded from A to A+ by rating agency Standard & Poor's (S&P) and put on a stable outlook
  • European exposure and loss collator Perils has issued a final loss tally of EUR252mn for windstorm Joachim, which hit Western Europe in December 2011.
  • Zurich Insurance Group has estimated its pre-tax aggregate losses from Hurricane Sandy at roughly $758mn net of reinsurance
  • Q-Re LLC has entered into a major new IT contract with the London market back office provider Xchanging
  • Standard & Poor's (S&P) has changed its outlook on RSA's A+ ratings from stable to negative based on its downward revision of earnings expectations for the UK-based general insurer because of historically low interest rates.