NU Online News Service, Feb. 8, 12:00 p.m. EST
Independent reinsurance brokerage firm Holborn said the first quarter has been an eventful one for reinsurers, who will post losses on several events including a recent cyclone and flooding in Australia and developing losses from the New Zealand and Chilean earthquakes in 2010.
Losses in the first quarter will eclipse $4 billion, or 10 points to the industry's loss and combined ratios, Holborn said.
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