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  • Modelling firm Eqecat estimates that the magnitude 7.4 earthquake that struck 300km south of Mexico City overnight on 20 March will cost the insurance industry less than $100mn.
  • A coup ahead of Mali's April elections has put large firms operating in the country - including AngloGold Ashanti and Randgold - at risk of higher taxation and state interference, but (re)insurance markets are likely to escape the incident unscathed after both mining giants announced they had no political risk cover.
  • London's small cap (re)insurers should be boosted by the agreed sale of Hardy to CNA at 1.55x year-end net tangible assets (NTA), according to first-reaction notes from analysts and stock price movement since the deal was announced.
  • The handsome multiple to book value that CNA has agreed to pay Hardy shareholders has understandably gained much of the attention since the deal was announced.
  • The disclosures of the world's biggest property cat underwriters have thrown up something of a mystery about the 1 January renewals.
  • John Paulson has welcomed last week's announcement that US composite The Hartford will put its underperforming individual annuities business into run-off, but said the decision did not address the main problem with the insurer's undervaluation.
  • The purchase of Hardy by CNA Financial marks a confident return to the London market for the top-15 US P&C insurance group.
  • Hardy chairman David Mann and group CEO Barbara Merry are set to receive almost £5.2mn in aggregate if the recommended sale to CNA closes, analysis shows.
  • The Lloyd's Market Association (LMA) says a project to bring co-lead binder risks into the London market's electronic claims handling system (ECF) will take the proportion of claims processed electronically above 90 percent.
  • US insurer CNA ended the sale auction for the venerable Lloyd's (re)insurer Hardy last week with a recommended knock-out cash offer that values the business at £143mn.