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  • Motor insurer Admiral today (14 May) said its full-year profit expectations remain unchanged despite an 11 percent drop in UK premium income over the first three months of the year as intense competition weighed on prices.
  • Hardy Underwriting today (14 May) said it had appointed former QBE executive Craig Bennett as its new head of casualty underwriting, tasked with building up the Lloyd's insurer's casualty market share
  • Novae Group echoed the experience of its larger Lloyd's rival Catlin Group in acknowledging that 2014 rate reductions were not just limited to the soft cat reinsurance markets.
  • Allianz, Europe's biggest insurer by market value, today (14 May) reported a 12.9 percent in increase in operating profit at its flagship property and casualty insurance arm during the first quarter, helped by lower catastrophe claims and firmer prices.
  • Catlin, operator of the biggest syndicate at Lloyd's, today (14 May) said its premium income rose 9 percent in the first quarter of 2014, while rates fell 2 percent on average across its book.
  • Expansive Florida homeowners' insurer Federated National (FedNat) is increasing the limit purchased on the private market portion of its cat reinsurance programme by 138 percent and doubling its retention.
  • Swiss-headquartered specialty property and engineering insurer Infrassure has reacted strongly to its one-notch downgrade by AM Best from A- to B++ with a continuing negative outlook late last week.
  • Tower Group has received a non-binding offer to acquire the company for $3.75 per share from Southeastern European carrier Euroins Insurance Group (EIG), which represents a 50 percent premium to the recommended offer from AmTrust.
  • Firm order terms on USAA's mammoth catastrophe treaty programme have been released and show a risk-adjusted rate reduction of 20-25 percent, The Insurance Insider can reveal
  • Darag has promoted Zsolt Szalkai to chief liability officer and given him a seat on its board, the run-off insurer said today (13 May)