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  • As an estimated 10,000 delegates converge on San Diego for 2008's Risk and Insurance Management Society's (RIMS) conference, fresh evidence has emerged of how brokers' revenue models are being transformed amid pressure from buyers and regulators.
  • Lloyd’s (re)insurer Advent Capital Holdings plc fell to a first quarter pre-tax loss of £5.5mn as it was hit by the succession of heavy industrial catastrophe losses this year, together with deterioration on the 2005-07 underwriting years.
  • Zurich Financial Services Group has grown its M&A practice through the opening of a London office.
  • The British Property Foundation (BPF) has called on the UK Government to invest in measures to prevent a repeat of 2007's summer floods.
  • Australian insurer QBE has increased its presence in Asia after establishing an underwriting operation in Singapore under the Lloyd's Asia license.
  • Everest Re Group saw profits plummet over $200mn in the first quarter of 2008 to $77.9mn compared to the same period last year.
  • The Travelers Companies Inc is that latest insurer to reveal it has been affected by an increase in catastrophe losses in 2008's first quarter results.
  • Allstate Corporation saw profits fall by over 75 percent in the first quarter of 2008 after suffering from a large rise in catastrophe losses.
  • Rates in South Korea have dropped by as much as 20 percent, reflecting a global trend in rate reductions, according to Guy Carpenter & Co's review of the April reinsurance market.
  • Bermuda's Arch Capital Group Ltd has reported a fall in first quarter net profits from $198.6mn to $189.4mn as the combined ratio in its insurance business rose as a result of large risk losses.