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  • Bermudian reinsurer Platinum Underwriters has reported that rising costs from the New Zealand earthquake will cost it $40mn in the fourth quarter, adding to $28.5mn losses reported in Q3.
  • Bermuda-domiciled Lloyd's carrier Omega Insurance Holdings has bought in additional reinsurance cover after it was dragged to a first-half loss by catastrophe activity and then hit by the New Zealand earthquake in September.
  • CatCo, the aspiring catastrophe reinsurance fund, is hoping to raise sufficient capital to list on the London Stock Exchange next month.
  • Caribbean and Lloyd's insurer Sagicor has taken a $7.8mn loss in the third quarter on its international property and casualty business written from London, after the New Zealand earthquake added to the Chilean losses it took earlier in the year.
  • Aspen Insurance UK has received regulatory approval to start underwriting from a Zurich branch as an admitted direct insurer in Switzerland.
  • Taiwanese-listed bancassurer Fubon Financial Holdings has emerged as a potential bidder for American International Group (AIG)'s Taiwanese life insurer Nan Shan.
  • In the final Lloyd's capacity auction of the year, Argo dominated proceedings by paying £0.6mn to acquire £5.7mn of additional capacity on its Syndicate 1200 for the 2011 year.
  • CNA Europe appoints two non-executive directors; AM Best affirms Atrium syndicates; AM Best holds on Axis Specialty; ING prepares to spin off insurance units
  • US workers comp insurer PMA Capital was successful in reversing an arbitration award to Platinum Underwriters Bermuda after an earlier decision to dismiss the payment was upheld by the US Court of Appeal last week.
  • The Camomile Underwriting Agencies Limited (CUAL) solvent schemes were granted recognition last week by a US judge at the Federal Bankruptcy Court in New York.