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  • Everest Re Group saw profits plummet over $200mn in the first quarter of 2008 to $77.9mn compared to the same period last year.
  • Bermudian cat specialist IPCRe reported a rise in first quarter net operating profits from $68.5mn to $92.8mn, despite an active period for natural catastrophe and large risk 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.
  • Lloyd's (re)insurer Amlin plc posted a 10 percent fall in gross written premium (GWP) for the first quarter of the year compared to the same 2007 period driven by renewal rate reductions, the company confirmed.
  • Peter Harmer, CEO of Aon UK, is to become chairman of the London Market Reform Group (MRG), Lloyd’s has announced. Harmer succeeds Stephen Matanle, managing director of Libero Ventures Ltd who left global broker Marsh in February.
  • Hilb Rogal & Hobbs (HRH) said it has seen a “significant improvement” in the performance of its London market broker Glencairn.
  • Lloyd's (re)insurer Amlin plc has seen a 10 percent fall in gross written premium (GWP) for the first quarter of the year compared to the same 2007 period driven by renewal rate reductions, the company has announced.
  • Liberty Mutual Group is to acquire rival Safeco Corporation in a sale worth $6.2bn after the boards of both companies reached a sale agreement.
  • Insurance Australia Group (IAG) has rebuffed another approach from QBE Insurance after it extended its merger offer until 5 May.
  • Troubled Bermudian (re)insurer XL Capital Ltd reported a 49 percent drop in net income for the first quarter 2008 on the prior year period, at $276.9mn or $1.57 per ordinary share.