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  • Transatlantic Holdings expects to take pre-tax net catastrophe costs of between $50mn and $100mn in the first quarter as a result of Australian weather events including the Brisbane floods and Cyclone Yasi
  • Former Omega Insurance CEO Richard Tolliday has filed a suit with the UK High Court to have his compensation case against his former employer heard in Bermuda, The Insurance Insider understands
  • The disclosure of another merger and acquisition (M&A) scramble for Chaucer this week (7 February) has not surprised many in the industry - with small- and mid-sized Lloyd's listed insurers currently viewed as attractive takeover targets
  • German legacy buyer Darag has kept up its initial merger and acquisition pace into early 2011 with the takeover of the non-life portfolio of Belgium-based Quantum Insurance
  • Global insurance giant Zurich Financial Services reported a 13 percent year-on-year drop in net income to $3.4bn for 2010, led by falling returns from its general insurance division
  • Like its rival Aon Corp earlier this week Willis posted credible fourth quarter earnings, including impressive growth in the global business that encompasses its specialty, London wholesale, reinsurance and advisory operations
  • Catlin's pre-tax profit for 2010 dropped by a third from the previous year to $406mn as investment returns halved
  • US giant Allstate Corp's Q4 net profits fell 43 percent from the $518mn reported in the prior-year period to $296mn, as it felt the impact of significantly higher catastrophe losses
  • In contrast to a number of its Bermudian compatriots, Everest Re has booked fourth-quarter net and operating profits that are significantly higher than in the comparable prior-year periods
  • Endurance Specialty Holdings reported that net profits for the fourth quarter and full year 2010 fell by almost a third largely due to the impact of catastrophe loss activity on its reinsurance book