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Taking care of business (interruption)

With Swiss Re announcing significant exposure to the Thailand floods, the first declared financial ripples have begun to flow into the international reinsurance markets from a wholly unanticipated catastrophe event.

At an estimated $600mn, pre-tax and net of reinstatements and retrocession, the Swiss Re loss is likely to be the firm's third-costliest event for 2011, after the New Zealand earthquake in February and the Japan Tohoku quake.

Swiss Re has also offered an industry loss...

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