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  • US specialty insurer RLI Corp reported a 10 percent rise in first quarter operating profits to $24.7mn as its bottom line benefited from a relatively benign period for losses along with continued reserve releases.
  • Platinum Underwriters opened the Bermudian Q1 reporting season by smashing Wall Street forecasts as its bottom line continued to benefit from reserve releases and the benign cat environment.
  • Lancashire Insurance shares closed down 5.3 percent on the London Stock Exchange yesterday (16 April) following the announcement before markets opened that founding CEO Richard Brindle would retire from the company in two weeks' time.
  • Six US catastrophe events generated $2.2bn in insured losses during the first quarter of 2014, according to a Q1 catastrophe review from Property Claim Services (PCS).
  • The airline insurance market fell to a loss last year, a trend which is likely to continue in 2014 as prices continue to fall, broker Aon warned today (16 April).
  • UK insurer RSA today (16 April) announced the resignation of Adrian Brown, its long-serving executive director and CEO of its UK and Western Europe business
  • Richard Brindle, the founder and group CEO of Lancashire Holdings Ltd, is to retire from the London-listed (re)insurer at the end of this month
  • Five new third-party catastrophe-modelling firms have partnered with catastrophe risk management firm RMS, boosting the number of models available on its soon-to-be-released RMS(one) platform to nearly 300.
  • Specialty (re)insurer Allied World has opened the doors to its newest branch office in Toronto, Canada, as the company continues to build out its global platform.
  • Lloyd's has published a new three-year plan that places a markedly increased emphasis on expanding its presence in international markets.