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  • XL Capital saw its revenues fall sharply and earnings dented in the first quarter but said a “back to basics” approach was beginning to pay dividends with a healthy 93 percent combined ratio in its core P&C operations (93.6 percent 1Q, 2008).
  • Willis Group is not in dispute with shareholders in its affiliate Gras Savoye & Cie over the valuation of the French broker.
  • Reinsurance Group of America (RGA) saw its first quarter net income drop $8.2mn compared to Q1 2008 to $23.3mn.
  • Former Marsh UK executive Stephen Matanle is returning to the market as head of Thompson Heath & Bond (THB) - which is the Lloyd's broker division of AIM-listed broker THB Group plc - as first revealed by The Insurance Insider.
  • Recently launched European catastrophe information aggregator Perils has appointed Glacier Group executive Dr Luzi Hitz as CEO.
  • Munich Re has checked its bullish stance on rate prospects, as the reinsurer's chairman described a "satisfactory" first quarter while acknowledging that its optimism late last year was still to filter through to widespread rating improvements.
  • American International Group (AIG) last week took steps to speed up the process of spinning off its general insurance operations as an independent entity, ahead of a potential initial public offering (IPO).
  • Hartford Financial Services Group may be broken up, after reports emerged that the beleaguered US insurer is seeking bids for its core property and casualty (P&C) business.
  • After being buoyed by comments from the G7 group of most industrialised nations on Friday (24 April) that the world economy was showing early signs of recovery, global stock markets slipped downwards again this morning amid fears of a swine flu epidemic.
  • While, as expected, the European Parliament took the significant step of approving the Solvency II framework directive last week (22 April) the compromise that excluded the contentious group support provision was described as a "missed opportunity" by Eur