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Wednesday, July 10, 2013

Munich Re: Floods Top 2013 World Disaster Bill So Far

Munich Re FloodsFloods that caused billions of dollars (euros) in losses were the world's most expensive natural disasters so far this year, with central Europe being hit hardest, reinsurers Munich Re said on Tuesday.

Altogether, natural catastrophes -- also including earthquakes, tornados and heat wa...

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Guy Carpenter, Willis Re: Reinsurance Market Rates Face Downward Pressure

Reinsurance rates downly 1 renewals show reinsurance market rates are sliding downward, according to new reports from Guy Carpenter and Willis Re.

The Guy Carpenter briefing indicates that barring major catastrophic losses, the rate trend is expected to continue through the remainder of 2013 despite $20 billion i...

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NJ Electric and Gas Utility Sues AIG, Ace, Allianz Over Sandy Losses

NJ lawsuit - SandyNew Jersey's largest gas and electric utility has filed suit against 11 insurers over losses related to Hurricane Sandy. The lawsuit names several large international insurance companies as defendants, including subsidiaries of Ace Ltd., Allianz SE and American International Group Inc....

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U.S. Struggles to Meet Health-Law Deadline

ObamacareWhen Obama administration officials delayed a central plank of the new health law-requiring that big employers offer health insurance to workers-they said it was to help businesses pleading for more time.

Left unsaid was the federal government hadn't written key rules guiding employers, ac...

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Enstar Agrees to Buy Torus Insurance for $692 Million

Purchase of TorusEnstar Group Ltd. has agreed to buy global specialty insurer Torus Insurance Holdings Ltd. for $692 million, continuing its push into 'live' underwriting.

"Torus provides us with an opportunity to acquire a large, international A- rated group of companies that both diversifies Enstar into the active m...

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Chubb Estimates Second Quarter Catastrophe Losses

Chubb lossesThe Chubb Corporation announced today that it estimates the impact in the second quarter of 2013 of losses from catastrophes to be approximately $240 million before tax, or $156 million after tax ($0.60 per share after tax).

Approximately $175 millio...

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