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  • Loss-struck reinsurer Thai Re's share price climbed 7.2 percent today (23 January) after last week's announcement that Prem Watsa-led combine Fairfax Financial is to invest $70mn in the firm's post-floods equity fund-raising issue.
  • Swiss Re is the hull lead and Parisco the broker for the $175mn+ KS Endeavor drilling rig which has been rendered a probable total loss by fires, our sister title Inside FAC revealed last week.
  • Reported loss estimates for the severe flooding in Thailand from property and casualty insurers have surpassed the $6bn threshold after a flurry of loss announcements over the past week.
  • Offshore energy insurers are facing the prospect of assuming more risk themselves or cutting back their lines after reinsurers responded to another year of losses by raising prices and tightening terms.
  • Munich Re expects its claims burden from the Costa Concordia cruise ship sinking to be in the mid-double-digit million euro range, the company has announced.
  • In rejecting Barbican's all-share offer for the company, Omega's management has made explicit its preference for a cash deal or one that would see shareholders offered a full cash alternative.
  • Bermudian cat specialist Montpelier Re and Japanese big three member Mitsui Sumitomo are among the 15 companies that have expressed interest in acquiring Hardy Underwriting, The Insurance Insider can reveal.
  • Lloyd's insurer Marketform has announced that Simon Turner stepped down as CEO and director of its managing agency and as a director of Marketform Limited with effect from 13 January 2012.
  • The appointment of Markel International's claims director Stuart Willoughby as global head of claims at Scor is likely to be the start of a merry-go-round of people moves at the top end of the claims profession, The Insurance Insider understands.
  • Canopius Syndicate 4444 has had its Lloyd's assessment level reduced from 3- to 2+ by Standard & Poor's (S&P), primarily as a result of a change in the capital charge imposed by the ratings agency on catastrophe business.