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  • Rates for US commercial insurance business rose by 6 percent in the aggregate in the third quarter compared to the prior-year period, suggesting sustained momentum in the sector, according to the latest survey from Towers Watson.
  • Montpelier Re has become the first Bermudian reinsurer to issue a loss estimate for Superstorm Sandy, as it forecast net losses of $95mn
  • Jonathan Gray, the well-regarded head of property at Beazley, is to resign from the board of the London-listed carrier in July 2013 and to step down from his post as head of the group's property unit at the end of the year
  • Swiss Re has completed an £800mn ($1.3bn) longevity insurance contract with the pension fund of UK insurer LV=, taking its longevity risk transfer past the $12bn mark
  • The National Flood Insurance Program (NFIP) has just $2.95bn left to pay out claims for Superstorm Sandy and no sign has been given yet on raising the organisation's borrowing cap
  • American International Group (AIG) says Superstorm Sandy will result in after-tax losses of around $1.3bn, net of reinsurance, in its fourth quarter financials.
  • American International Group (AIG) has agreed a deal to sell up to 90 percent of its aircraft leasing business to a Chinese consortium in a deal that values the unit at $5.28bn.
  • Howden Broking Group, the broking arm of Hyperion Insurance Group, has announced that former Heath Lambert CEO Adrian Colosso will join its board as non-executive chairman in 2013
  • An earthquake of magnitude 7.3 has struck the north-east coast of Japan near the site of the much larger Tohoku quake of 2011, leading the Japan Meteorological Agency to issue a regional tsunami alert
  • Randall & Quilter Investment Holdings (R&Q) has confirmed the launch of Syndicate 1991, the first pure start-up syndicate to be launched with Names backing since 2010