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  • Barclays analyst Jay Gelb says he is increasingly hopeful that commercial P&C insurers will see a sustained increase in premium rates after seeing recent data from Chubb, Travelers and the Council of Insurance Agents and Brokers (CIAB).
  • Bermudian reinsurers Argo Group and Flagstone Re have disclosed third quarter catastrophe losses of $35-40mn and $75mn respectively.
  • The Munich Re and Swiss Re-dominated reinsurance programme of the Turkish Catastrophe Insurance Pool (TCIP) is likely to escape a loss after yesterday's 7.2 magnitude earthquake due to its substantial retention.
  • A subsidiary of New York-listed P&C insurer Markel Corporation has acquired a majority interest in WI Holdings Inc (Weldship) from RAF Industries.
  • Flagstone Re has announced that it will sell its Lloyd's business by the end of March 2012 as it looks to push through structural changes to restore its fortunes after a year of setbacks.
  • Catastrophe risk modelling firm AIR Worldwide has released an update to its US terrorism model to reflect a greater focus on small-scale security threats and a more infrequent chance of attack.
  • More than 85 percent of Jardine Lloyd Thompson (JLT)'s other shareholders have offered to tender their shares to the group's largest investor, Jardine Matheson, as the conglomerate plans to add a further 10 percent to its holding.
  • Insurers are continuing to stall on the implementation of RMS 11 into their own underwriting despite their reinsurers looking to charge them further rate increases based on the updated US wind model at 1.1.
  • Despite positive movement on rates, deteriorating investment returns and non-coastal losses mean homeowners' insurers are failing to fully cover their cost of capital for writing the business.
  • The earthquake that struck eastern Turkey today (23 October) is a stark reminder of the devastating consequences of natural catastrophes, delegates at the Baden Baden conference were told.