from the publisher of reinsurance and fac magazines

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A Van Gogh, a Monet, a Degas and a Cezanne

Dear friend,

I know it sounds like the opening line of a bad joke

But here's a nasty loss for specie underwriters out there.

$160m is gonna hurt.

The die have been cast.

I just hope you're not on this one.

Good luck!

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