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  • Flood events accounted for the majority of natural catastrophe losses during the first half of the year, representing 45 percent of the total $13bn loss tally, according to new Munich Re NatCat estimates.
  • Flagstone Re booked a net loss of $85.2mn for the quarter and $326.1mn for the year as the burden of catastrophe losses decimated the reinsurer's bottom line and contributed to a 30 percent drop in shareholders' equity in 2011.
  • Specialist Lloyd's insurer Advent announced pre-tax losses of £74.8mn in its full-year results, which were released on 31 March. The company fell from last year's pre-tax profit of £4.5mn after suffering a £79.7mn net hit from hurricanes Katrina...
  • Proposers of the Scottish Lion solvent scheme of arrangement are confident it will be sanctioned at a hearing in early July, as votes are totted up from its 2 March creditors' meeting.
  • Tough market conditions that are providing reinsurers with the "sternest possible test" of their enterprise risk management (ERM) are likely to lead to a number of rating outlook changes, according to credit agency Standard & Poor's (S&P).
  • Last week's acquisition by Torus Insurance Holdings (Bermuda) Ltd of rights to renew "substantially all" New Castle Re contracts will also see the start-up take over the Citadel-backed Class of 2005 reinsurer’s office with the eventual transfer of...
  • Expansive legacy and services specialist Randall & Quilter (R&Q) unveiled another modest acquisition last week, with a EUR3.2mn deal to take over French reinsurer La Licorne Compagnie de Réassurances.
  • Ron Sandler, the chairman of Bermudian insurer Ironshore Ltd and the former chief executive of Lloyd's, is poised to run the stricken UK bank, Northern Rock, if it is nationalised.
  • While Bermuda attracts $8bn of fresh capital post 11 September, investors are less confident about backing the Lloyd's market While Bermuda basks in almost $8bn of new, post 11 September capital, Lloyd's insurers are scrambling around to ensure they ca
  • Global broker Willis has followed rivals in posting strong first-quarter results with 4 percent organic growth in fees and commissions