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  • Winter storms in Europe and the US and the inevitable torrent of claims from the Queensland flooding will add to a total of natural catastrophe insured losses for 2010 that has already become the sixth-worst since 1980
  • While the Insurance Council of Australia and treaty reinsurers closely monitor the Queensland claims toll mounting on Australia's general insurance sector, the picture for large commercial losses is yet to surface from the flood waters
  • Queensland general insurance market leader Suncorp is expected to be adequately protected from the floods by its reinsurance programme
  • As the death toll mounts and rising waters deluge large parts of state capital Brisbane, the global (re)insurance industry is waking up to the potential for material damage to earnings from the Queensland floods
  • The introduction of new US hurricane models by AIR and RMS was - as predicted by The Insurance Insider in November - an additional factor in the 1 January property cat renewals
  • Beyond the annual bout of rhetorical posturing before and after 1 January, tangible evidence of reinsurer market discipline was on display at the renewals as players in the brokered reinsurance market resisted the temptation to accept multi-year lead terms
  • Specialty insurer Argo Group International will bear a $12mn net loss from the New Zealand earthquake in its fourth quarter 2010 results, following an initial $11.3mn loss estimate in the third quarter.
  • The American International Group (AIG) has set the date for its recapitalisation for tomorrow (14 January), when it plans to repay the Federal Reserve Bank of New York and hand a 92 percent share in the firm to the US Treasury.
  • All market observers reported average pricing down by 5-10 percent at the 1 January 2011 renewals - but another significant change was that reinsurers regained a view that was closer to their clients
  • Lloyd's broker Besso and its private equity bidder LDC have reached agreement on post-deal management arrangements that would see CEO Colin Bird and non-executive chairman Brian Marsh leave the business, The Insurance Insider understands