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  • Market softening contributed to a $50mn first quarter profit fall at RenaissanceRe Holdings Ltd, compared to the prior-year period.
  • Bermudian insurer Lancashire Holdings Ltd has trumped analysts’ expectations with first quarter pre-tax profits of $86.4mn, only marginally down on the $88.3mn it booked in the prior-year period.
  • The Insurance Services Office (ISO) has estimated that US property & casualty insurers will pay out an estimated $3.35bn in first quarter catastrophe claims in 2008.
  • Shares in Highway Insurance Holdings plc have dipped after the UK motor specialist offered a bleak update on the sector.
  • Florida’s state insurer Citizens Property Insurance Corporation is to buy reinsurance in the private market for the first time in its history.
  • Allianz Group's first quarter results are expected to be hit by a EUR0.9bn writedown at subsidiary Dresdner bank "due to the ongoing financial market crisis", the company has revealed.
  • The British Property Foundation (BPF) has called on the UK Government to invest in measures to prevent a repeat of 2007's summer floods.
  • UK-based wholesale broker Price Forbes & Partners is planning to launch in Bermuda in the second quarter of this year.
  • Shares in bond insurer Ambac Financial Group plummeted after the company revealed a net loss of $1.66bn for Q1 2008 compared with a prior-year profit of $213mn.
  • Allstate Corporation saw profits fall by over 75 percent in the first quarter of 2008 after suffering from a large rise in catastrophe losses.