The Week in a Minute, Dec. 2, 2011

  • U.S. reinsurers posted a painful 108.8 CR through nine months, vs. 96.6 a year ago, the RAA reported.
  • PMI Group, parent of the mortgage insurer, filed Chapter 11.
  • A 50% writedown of debt from Portugal, Ireland, Italy, Greece and Spain would wipe away one-fourth of the shareholders equity of European insurers – so sez Swiss Re.
  • Hurricane season ended. No major storms, but a major bummer in Irene. More here.
  • Massachusetts became the latest state to ban using credit scores to set auto insurance rates.

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