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  • Munich Re's burden from major catastrophe losses in the first quarter totalled EUR761mn, pushing its quarterly combined ratio to 109 percent and forcing a warning that full-year profit targets are now looking "increasingly ambitious".
  • Despite a cat-driven 77 percent fall in the underwriting profits of its general insurance division Zurich Financial Services's (ZFS) investments helped it to post net income approaching $1bn in Q1.
  • Brit Insurance took its money off the table in Q1, allowing gross written premiums to fall 9.9 percent at constant currency rates as it demonstrated its determination to maintain margins and wait out the soft market.
  • Up to two hundred staff are thought to have resigned en masse yesterday from US wholesale broker CRC Insurance Services to join industry legend Pat Ryan's start-up operation, Ryan Specialty Group (RSG), The Insurance Insider can reveal.
  • Argo group has posted profit of $20.7mn in Q1 2010 amid $29.1mn in net catastrophe losses for the quarter. The result was a 23 percent reduction on the $27mn in net income posted for Q1 2009.
  • UK and international P&C insurer RSA has maintained its £30mn ($45mn) net estimate for the Chilean earthquake.
  • Swiss Re has defied analyst predictions to turn a first quarter profit, as mark-to-market gains on its investment portfolio helped absorb an estimated $700mn catastrophe loss hit.
  • XL Capital has posted a first quarter profit on a dramatic improvement in realised investment losses, and despite an 11 percentage point deterioration in its loss ratio from Q1 catastrophes.
  • Bermudian (re)insurer Lancashire has reported aggressive growth in its first quarter property catastrophe portfolio, doubling premium volumes written in the same period of 2009.
  • Lloyd's insurer Amlin plc is to launch a Zurich-based reinsurance company that will target European business that does not typically flow into the London or Bermudian markets.