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  • Allianz Group's first quarter results have been hit by a EUR845mn writedown at subsidiary Dresdner Bank following "difficult market conditions", the company has revealed.
  • Shares in American International Group (AIG) traded down to hover just above a 10-year low in after-hours trading yesterday as the US giant posted a record first quarter loss of $7.8bn triggered by another round of heavy mark-to-market credit derivative a
  • Munich Re’s first quarter profits dipped 19 percent as it took a EUR578mn hit in its reinsurance division from the spate of major losses hitting the market in the period.
  • Collins Stewart analyst Tim Young suggested a break-up of the RSA Group could be on the cards after it announced a 15 percent rise in group net written premiums to £1.7bn in the first quarter of 2008, compared to the prior-year period.
  • Insurance Australia Group (IAG) has been downgraded by Standard & Poor's (S&P) following a review of its risk profile, just days after receiving a renewed extension to QBE Insurance's merger offer.
  • Marsh & McLennan Companies (MMC) has slipped to a $210mn first quarter net loss as a result of a $425mn goodwill writedown at its security consulting arm Kroll.
  • Ernst & Young is increasing its focus on (re)insurance run-off after launching a dedicated unit.
  • The two former Marsh Inc executives who were sentenced to jail time last month for their part in bid-rigging have had their sentences postponed pending their appeal.
  • Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP
  • Benfield Group's efficiency drive has extended to the firm's prestigious pension scheme, with the company launching a consultation on reducing its contributions.