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  • Catlin's pre-tax profit for 2010 dropped by a third from the previous year to $406mn as investment returns halved
  • US giant Allstate Corp's Q4 net profits fell 43 percent from the $518mn reported in the prior-year period to $296mn, as it felt the impact of significantly higher catastrophe losses
  • In contrast to a number of its Bermudian compatriots, Everest Re has booked fourth-quarter net and operating profits that are significantly higher than in the comparable prior-year periods
  • Endurance Specialty Holdings reported that net profits for the fourth quarter and full year 2010 fell by almost a third largely due to the impact of catastrophe loss activity on its reinsurance book
  • Shares in London market back office provider Xchanging more than halved in value today (9 February), after the UK outsourcing firm posted a profits warning and its founding CEO David Andrews stepped down.
  • The UK insurance industry must increase its lobbying efforts in the European Union as domestic influence becomes less relevant, according to the head of the UK's Financial Services Authority (FSA) Hector Sants
  • Bermudian reinsurer Platinum Underwriters has reported a $17.7mn fourth-quarter net loss on cat losses of $78.1mn, led by the New Zealand earthquake and a $9.9mn charge from Australian floods
  • American International Group's (AIG) property and casualty (re)insurer Chartis has said that it will add $4.1bn to its loss reserves to protect against adverse development in long-tail casualty classes
  • The UK insurance industry took a £1.4bn hit from the freezing weather that brought the nation's economy to a stand-still for much of December - twice the amount it paid out for the previous winter
  • XL Group reported a $23mn fourth quarter loss on Australian flooding but still posted a quarterly profit of $188mn, turning around the $40mn loss reported in the same period of 2009