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  • It is only a fool who believes he can avoid major market losses or overall loss trends. We all know that the law of large numbers means that pricing becomes less of an art and more of a science as greater amounts of data come into play.
  • As underwriters and brokers embark on a frenzied last few days of negotiation for the 1 January renewal season, firm order terms for US property cat programmes are generally falling in line with the rate increases of 5-10 percent seen at mid-year.
  • Platinum Underwriters has joined the growing band of reinsurers that have received permission from the Florida insurance regulator to post reduced collateral on business that it writes in the state
  • Houston-based subcontractor Cameron International agreed a $250mn settlement with BP regarding the 2010 Deepwater Horizon oil rig explosion and spill in the latest development in the ongoing saga.
  • Lloyd's CEO Richard Ward has written to the CEOs of managing agents to reassure the market over Kiln-managed Tokio Marine Syndicate 1880's outsized exposure to Thai flood losses.
  • US broker Brown & Brown has ended an acquisitive year by agreeing a major deal to buy programme manager and managing general agent (MGA) Arrowhead General Insurance Agency, Inc for $395mn from its private equity owners.
  • Insurance Australia Group Limited (IAG) has agreed to purchase the ongoing insurance business of New Zealand mutual AMI for NZ$380mn (£185mn)
  • Global reinsurer Scor has said it expects its net losses from the floods in Thailand to amount to EUR140mn.
  • French mutual insurer Groupama has been hit by a further ratings downgrade in yet more evidence of the squeeze on European (re)insurers credit profile amid the Eurozone debt turmoil.
  • Lloyd's will work on plans to support syndicates in responding to any market upturn, the Corporation has announced as part of its latest three-year plan.