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  • Transatlantic Holdings expects to take pre-tax net catastrophe costs of between $50mn and $100mn in the first quarter as a result of Australian weather events including the Brisbane floods and Cyclone Yasi.
  • US giant Allstate Corp's fourth-quarter net profits fell 43 percent from the $518mn reported in the prior-year period to $296mn, as it felt the impact of significantly higher catastrophe losses.
  • Distressed insurance company Quanta Capital Holdings Ltd revealed a $42.9mn loss for the second quarter and said it was talking to its bankers after defaulting on its credit facility following the rating downgrades earlier this year.
  • RSA and CGNU handled the recent floods with aplomb, but will they and smaller insurers find themselves suffering after the latest storms? Loss assessors are an unreliable bunch. Take the dreadful flooding that in England's south east recently; before
  • FTSE 100 companies are reporting risk above and beyond what the UK's regulatory regime requires, according to research undertaken by broking giant Marsh Ltd.
  • The fatal flash floods that struck southern France on 15 June, killing 25 people, are set to cost insurers nearly EUR700mn, according to estimates from national industry body Fédération Française des Sociétés d'Assurance (FFSA).
  • Bermudian (re)insurer Platinum Underwriters Holdings has appointed James Krantz as executive vice president and CFO.
  • Strong growth at subsidiaries Guy Carpenter, Kroll and Mercer pushed Marsh & McLennan Companies Inc (MMC) to book fourth quarter 2006 revenue growth of 9 percent to $3.1bn, as it reported consolidated net income of $226mn for the period.
  • Specialty insurer Markel Corporation acquired privately owned US workers' compensation insurer Aspen for $135mn in cash, it was announced last week.
  • Validus Re will take a decision shortly on whether to renew its $200mn energy sidecar Petrel Re but says it looks likely to continue with the facility.