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  • Pricing on Japanese-exposed cat bonds has dived following Friday's (11 March) devastating earthquake and tsunami, although confusion still reigns over which bonds may face actual losses
  • Swiss-headquartered Ace estimates that its losses from the Japanese earthquake will be between $200mn and $250mn, effectively doubling the $210mn of natural catastrophe losses already totted up by the global (re)insurer in the first quarter
  • Lloyd's listed insurer Lancashire has estimated that its first quarter losses for 2011 will be $45mn to $55mn, excluding claims relating to the Japanese earthquake.
  • A fresh earthquake that struck Japan south of Mount Fuji earlier today on a separate fault system to last Friday's disaster is unlikely to lead to more than $500mn in insured losses.
  • European reinsurance stocks closed down yet again today (15 March) as investors continued to react negatively to the uncertainty over losses emerging from the Japanese earthquake disaster.
  • Flagstone Re is expecting a net loss of $60mn-$90mn from February's earthquake in Christchurch, putting its total estimated cat bill for 2011 so far at $120mn-$170mn even before the Japanese earthquake is considered.
  • If all Japanese earthquake reinsurance treaties in the international market were exhausted the total cost to global reinsurers would be less than $25bn, senior sources have told The Insurance Insider
  • Hardy Underwriting has pressed on with its share buyback programme after the Japanese earthquake and tsunami that struck last week
  • Bermudian reinsurer Arch Capital Group will take a $35mn-$70mn net loss on the February New Zealand earthquake and says its modelled losses for a Japanese quake stand at $60mn-$100mn
  • The board of HCC Insurance Holdings has authorised the firm to buy back up to $300mn of its common stock