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€40bn Euro winter storm warning from AIR

A new analysis of European extratropical cyclones by AIR Worldwide (AIR) has projected that Europe could experience a winter storm resulting in insured losses in excess of €40 billion.

Open GI makes first acquisition

Open International, the group holding company for broker software house, Open G I, and the Countrywide network, has today announced its first acquisition.

XL posts solid third quarter

Global (re)insurer XL Capital has reported net third quarter income of $415.8m set against a net loss of $1,049.2 million for the Katrina and Rita affected third quarter in 2005.

Canopius acquires Creechurch

Canopius, the specialist Lloyd’s underwriting group, announces today that it has agreed to acquire the entire operations of fellow Lloyd’s business Creechurch.

Ace bounces back with 3Q gains

Ace has reported net income for the third quarter ended September 30, 2006 of $578m after payment of preferred dividends, compared with a net loss of $112m for the same quarter last year.

Flagstone Re in $175m New York IPO, European expansion

Class of 2005 Bermudian reinsurer, Flagstone Re has filed with the Securities and Exchange Commission for an initial public offering of shares to raise approximately $175m. Flagstone said it will apply to list the shares on the New York Stock Exchange…

Catlin in Wellington buy talks

Wellington Underwriting has confirmed it is in discussions with Catlin over a possible takeover. In a statement to the stock exchange today, the Board of Wellington said it noted the recent increase in its share price, which has risen over 6% today. The…

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