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  • Scor has struck a contingent capital deal with UBS that allows the French reinsurer to raise up to EUR150mn in equity capital if certain natural catastrophes occur over the next three years.
  • Ratings agency AM Best says the outlook for reinsurers is stable, with the industry showing strong performance and capitalisation overall.
  • European catastrophe loss aggregator Perils has modesty increased its loss predictions for Windstorm Xynthia by EUR20mn to EUR1.3bn, as it provided the first granular breakdown of losses from a European windstorm
  • The reinsurance industry's resilience in weathering the financial crisis has produced a glut of capacity, three major ratings agencies have said.
  • Rod Dampier, the long-serving head of aviation at Lloyd's (re)insurer Amlin, has revealed he intends to step down in 2011 in favour of his colleague Miles Taffs
  • Troubled insurer Quinn posted a EUR788.4mn loss for 2009, including underwriting losses of EUR127mn, according to unaudited accounts filed with the Irish Financial Regulator.
  • Scor's knack for provoking rating agency actions during the Monte Carlo reinsurance Rendez-Vous has continued with an upgrade by AM Best from A- to A
  • Broking giants Aon and MMC have combined in the wake of the Deepwater Horizon disaster to create a facility providing $1bn+ of excess liability cover to oil companies for control of well and pollution clean-up costs, The Insurance Insider can reveal
  • The energy casualty market looks set to face a substantial hit as a result of a gas pipeline explosion in a neighbourhood near San Francisco, The Insurance Insider understands.
  • RSA is unlikely to return with an improved offer after its ambitious £5bn all-cash bid for the non-life operations of Aviva was rejected, The Insurance Insider understands.