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  • Paris Re has given a cautious welcome to price hardening in some of its core short-tail lines of business, but has again struck a notably less excitable tone than many in its global P&C (re)insurance peer group...
  • Insurance giant Allianz saw its net income for the first quarter of 2009 drop by EUR1.12bn to EUR29mn compared to Q1 2008, as write-downs almost doubled to EUR708mn and its property and casualty (P&C) business produced sluggish figures.
  • Lancashire Holdings saw its first quarter revenues fall sharply as it said it was holding back capacity to take advantage of "improving opportunities".
  • Everest Re Group Ltd has become the latest Bermudian to establish a full European underwriting platform with the launch of a EUR200mn Irish subsidiary.
  • Florida's state-backed insurer Citizens Property Insurance Corporation has pulled its reinsurance spend from the private market for 2009 because of the increased cost of cover.
  • Everest Re Group Ltd has become the latest Bermudian to establish a full European underwriting platform with the launch of a EUR200mn Irish subsidiary.
  • Lancashire Holdings saw its first quarter revenues fall sharply as it said it was holding back capacity to take advantage of “improving opportunities”.
  • Lloyd's has censured three members of Ark Syndicate Management's Accident and Health (A&H) underwriting team for "discreditable and detrimental conduct" following their move to Ark from Travelers' Lloyd's platform in 2007.
  • UK insurer RSA has raised £500mn of subordinated debt to bolster its financial flexibility ahead of any call on its EUR500mn subordinated guaranteed bonds. A spokesperson said that RSA has the right to buy back its debt in October 2009 but cannot confirm
  • Private equity firm Pamplona Capital Management has turned up the pressure in the auction process for Lloyd’s insurer Chaucer Holdings by announcing it is interested in acquiring 29.9 percent stake in the company.