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  • Omega's share price has strengthened by almost 15 percent in early trading after it emerged that US carrier Delphi Financial Group was the insurer poised to enter due diligence with Omega.
  • Alterra Capital has announced combined net pre-tax losses of $26mn-$38mn arising from the first quarter New Zealand and Australia catastrophes, but has said it is too early to produce an estimate for exposures to last week's Japan quake and tsunami
  • Bermudian reinsurer Everest Re followed its compatriot RenaissanceRe in holding back on an early estimate for exposures to last week's Japan quake and tsunami, as it provided loss figures for the first quarter New Zealand and Australia catastrophes
  • Takeover target Chaucer has estimated a £27mn loss from the first-quarter flooding in Australia and the second New Zealand quake, partially offset by £7mn of favourable development on 2010 cat reserves
  • Between $50mn and $100mn of Japanese earthquake industry loss warranties (ILW) traded shortly after the 11 March catastrophe that struck northeastern Japan, our sister publication Trading Risk has revealed.
  • The unnamed US carrier that made a recent approach to Omega Insurance Holdings has requested to enter due diligence, The Insurance Insider understands
  • Renewals on Japanese quake-exposed accounts are likely to take place approximately two months after the scheduled 1 April date due to post-disaster uncertainty, The Insurance Insider understands
  • Endurance Specialty has said that its losses from the first-quarter flooding in Australia and the second New Zealand earthquake in February are likely to be around $60mn
  • The heavy claims toll from natural catastrophes since the third quarter has edged the international (re)insurance market closer to a market turn, according to research from a London-based equity analyst
  • US and UK officials have widened no-go zones around the Japanese nuclear plant damaged during the quake and tsunami, as concerns grow about efforts to keep nuclear material cool