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  • US personal lines bellwether Allstate lifted its property-liability underwriting result from $71mn in the first quarter of 2010 to $327mn this year, as it benefited from lower catastrophe losses
  • UK offshore domicile Guernsey has said that it currently has no intention of seeking Solvency II equivalence.  
  • American International Group (AIG) has paid off its credit facility with the Federal Reserve Bank of New York (FRBNY), taking a significant stride to independence from the US government in the process.
  • Willis Group Holdings Ltd saw its profits fall 50 percent for the second quarter after a "significant impact" from its cost-cutting programme.
  • UK broker COBRA Holdings has announced its intention to seek admission to the AIM stock exchange with a planned £10mn float.
  • Lloyd's specialist (re)insurance group Chaucer Holdings has announced that its new international liability division is now accepting business.
  • Andrew Carrier, the former active underwriter of Kiln’s Lloyd’s Syndicate 557 and the reinsurance division of its Syndicate 510, will join Bermudian firm Peleus Re later this year.
  • Standard and Poor’s (S&P) has revised its outlook on French composite insurer Groupama to negative from stable, citing increased pressure on the company’s capital adequacy resulting from the sharp decline in market conditions.
  • The chairman of "Class of 2005" firm Flagstone Reinsurance Holdings said its nimble stature was key to its ability to ride through the softer market conditions.
  • Legacy (re)insurer Grafton completed a transfer for UK supermarket firm WM Morrison's captive run-off liabilities understood to be in the "tens of millions".