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  • Hannover Re has almost doubled its Thai loss to EUR196mn from the preliminary EUR100mn estimate it gave during a Q3 earnings call, as it unveiled full-year profit guidance that exceeded targets
  • Lloyd's has sent a delegation to India after years of trying to penetrate one of the fastest-growing yet notoriously protectionist markets for the insurance industry.
  • Jim Wrynn, the deputy superintendent of the New York Department of Financial Services and chief regulator for the insurance industry, is to take up a position with law firm Goldberg Segalla.
  • Shares in beleaguered US insurer The Hartford surged 7.6 percent on Wednesday (8 February) after billionaire hedge fund manager John Paulson pressed the company's management to take "drastic" action to reverse its share price slump.
  • Fears that the wave of US lawsuits against Chinese companies listing on US exchanges will turn into the next big loss event for professional lines underwriters have been downplayed by representatives of the US plaintiff bar community.
  • The global financial services industry should view the 2008 financial crisis as a "dress rehearsal for the really big one", according to Chartis CEO Peter Hancock.
  • Endurance Specialty Holdings became the latest Bermudian to fall to fourth quarter and full-year operating losses, although its Q4 performance edged Wall Street consensus forecasts.
  • Montpelier Re fell to fourth quarter operating loss of $16.2mn or $0.27 a share that was marginally better than analysts' consensus of $0.30 cents a share and compared to an operating profit of $53.9mn, or $0.81 a share in the prior-year period.
  • Fourth quarter net cat losses of $194.9mn pushed XL Group to an operating loss of $79.6mn, or $0.25 a share for the period that was well below Wall Street consensus of a $0.16 a share profit and compared to an operating profit of $242.4mn in the prior-year period.
  • Retiring Axis CEO John Charman has disparaged the Lloyd's marketplace for the extent to which its managing agents are beholden to central powers and reiterated that he would never support the creation of an Axis syndicate.