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  • Lloyd's has disclosed a preliminary loss estimate of $600mn for the US tornado outbreaks that took place throughout April and May.
  • Standard & Poor's (S&P) has affirmed the A- financial strength rating of Fairfax Financial's core operating subsidiaries, but has changed its outlook from positive to stable
  • Arch Capital became the latest Bermudian (re)insurer to reveal a surge in net income in 2009 with more-than-threefold growth to $851.1mn despite a decline in premiums written.
  • A New York-based hedge fund has hit back at Canadian conglomerate Fairfax Financial Holdings with a counterclaim accusing the firm of defamation and a campaign of harassment and intimidation.
  • Texan businesses that followed US government recommendation to flee from the advancing Hurricane Rita could now find they have no valid claim for Business Interruption.
  • Swiss reinsurer Converium came out ahead of expectations on 9 August to post a second quarter net profit of $70.8mn, against a net loss of $660mn in the same period of 2004.
  • UK outsourcing specialist Capita has announced the death of Andrew Beer, managing director of the firm's corporate division. Andrew passed away suddenly at his home in Wetherby, Yorkshire over the weekend.
  • The economic costs of the summer 2007 floods in the UK were approximately £3.2bn and within a possible range of between £2.5-£3.8bn, according to the UK Environment Agency (UKEA).
  • Gross results demonstrate sectors dependence on cheap reinsurance, and highlight concerns over expected recovery in the light of continuing stiff competition. Personal Accident: "An insurance policy which, in return for regular premiums, pays a specif
  • UK watchdog the Financial Services Authority (FSA) has appointed Margaret Cole to its board as managing director of enforcement and financial crime.