April 2008/4

The British Property Foundation (BPF) has called on the UK Government to invest in measures to prevent a repeat of 2007's summer floods.

UK-based wholesale broker Price Forbes & Partners is planning to launch in Bermuda in the second quarter of this year.

Zurich Financial Services Group has grown its M&A practice through the opening of a London office.

German insurance giant Allianz SE has acquired a majority stake in two Turkish insurers from Koc Holding in a deal worth over EUR370mn.

First quarter profits at Platinum Underwriters have soared by more than 40 percent on the comparable prior-year period.

Australian insurer QBE has increased its presence in Asia after establishing an underwriting operation in Singapore under the Lloyd's Asia license.

Peter Harmer, CEO of Aon UK, is to become chairman of the London Market Reform Group (MRG).

Shares in bond insurer Ambac Financial Group plummeted after the company revealed a net loss of $1.66bn for Q1 2008 compared with a prior-year profit of $213mn.

US reinsurer Transatlantic Re reported first quarter profit of $115.7mn, an 8 percent rise from the same period last year.

Allstate Corporation saw profits fall by over 75 percent in the first quarter of 2008 after suffering from a large rise in catastrophe losses.

The Travelers Companies Inc is that latest insurer to reveal it has been affected by an increase in catastrophe losses in 2008's first quarter results.

Everest Re Group saw profits plummet over $200mn in the first quarter of 2008 to $77.9mn compared to the same period last year.