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  • Allstate is replacing the bulk of its state-by-state and aggregate catastrophe reinsurance covers with a giant $3.25bn xs $500mn nationwide programme, The Insurance Insider can reveal.
  • Bermudian Tokio Millennium Re (TMR) is the seventh international reinsurer to be granted approval by the Florida Office of Insurance Regulation (FLOIR) to post lower collateral against losses incurred in the state market.
  • AIG downgrade; Brit offer extended; Bermudian stats; Queensland looking at buying RI; Ramani Ayer joins XL board; Goss becomes Advocate Re; Agnew Gallagher; Montpelier Re...
  • "When leverage works, it magnifies your gains. Your spouse thinks you're clever, and your neighbours get envious. But leverage is addictive. Once having profited from its wonders, very few people retreat to more conservative practices."
  • Underwriters on the New Zealand Earthquake Commission (EQC)'s reinsurance programme will be limited in their ability to use rate rises to get payback for losses because of the NZ$2.5bn programme's three-year rolling renewal.
  • Class of 2005 reinsurers Validus and Flagstone Re have both updated their first quarter Australasian loss estimates.
  • International (re)insurers are now facing a first quarter catastrophe loss bill of $15bn+ as the scale of the devastation in Christchurch, New Zealand became apparent last week
  • QBE posted a combined operating ratio of 89.7 percent in 2010, up just 0.1 percentage points on the year before, despite $1.08bn of large and catastrophe claims
  • Private equity acquisition vehicle Achilles said this morning (28 February) that more than 84 percent of Brit shareholders have now accepted its takeover offer
  • Allstate is replacing the bulk of its state-by-state and aggregate catastrophe reinsurance covers with a giant $3.25bn xs $500mn nationwide programme, The Insurance Insider can reveal