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The primary insurance market will outperform reinsurers in Q1 2010 results, amid unprecedented $16bn natural catastrophe losses over the period, according to Willis Re.

The renewals report by the reinsurance arm of broker Willis said that the first three months of 2010 have turned into the worst first quarter on record for natural catastrophes, including the Chilean earthquake and European Windstorm Xynthia.

Willis Re warned that the first quarter of 2010 "does not bode well for reinsurers", following on a...

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