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  • Munich Re, Swiss Re and Hannover Re have estimated combined losses of more than EUR1bn from the Chilean earthquake and windstorm Xynthia that struck on 27 and 28 February.
  • The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has formed a partnership with the UN Economic Commission for Latin America and the Caribbean (UNECLAC) to coordinate disaster reporting to the area's governments.
  • Securis Investment Partners has agreed that JP Morgan will market its flagship Securis 1 fund.
  • US weather speciality insurer Vortex Insurance Agency has launched a parametric drought insurance product for US agricultural firms.
  • Full-year results to date for 2009 show a year of solid recovery for the (re)insurance industry, with strong underwriting performance and a return to profit.
  • UK regulator the Financial Services Authority (FSA) delivered a stern warning to the life settlements market about mis-selling risks to retail investors, while the American Council of Life Insurers (ACLI) has called for a ban on life settlement securitisation - raising concerns about the industry's growth and development.
  • Ratings agency Standard & Poor's (S&P) has affirmed that Swiss Re's 2007 Crystal Credit bond is on course to default.
  • Hannover Re has completed a $500mn letter of credit facility with Deutsche Bank to support further expansion into the US life reinsurance sector.
  • Bermudian reinsurer RenaissanceRe expects an increase in capital markets products to pose a growing threat to traditional reinsurance in 2010.
  • Investment bank Goldman Sachs has completed its wholesale withdrawal from the life settlements (LS) market by closing its Longmore Capital life policy-sourcing vehicle to new business and selling down its stake in joint venture trading platform Institutional Life Services (ILS).