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  • 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.
  • 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.
  • US insurer Chubb Corp has been criticised for its "low quality earnings" and unsustainable reserve releases by analyst David Small of Bear Stearns.
  • 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.
  • The sale of its London-headquartered reinsurance operations pushed US broker Arthur J Gallagher to a loss of $6mn for the first quarter despite a 10 percent rise in its revenues.
  • Listed Lloyd's insurer Beazley Group plc reported falls in both rates and premiums in its first quarter trading update this week.
  • Bermudian (re)insurer XL Capital Ltd reported a 49 percent drop in net income for the first quarter 2008 on the prior-year period, to $276.9mn or $1.57 per ordinary share.
  • Controlling a third of any market place gets regulators uneasy, especially in a sector as unpopular among consumers as insurance.
  • German insurance giant Allianz SE has acquired a majority stake in two Turkish insurers from Koc Holding in a deal worth over EUR370mn.
  • US reinsurer Transatlantic Re reported first quarter profit of $115.7mn, an 8 percent rise from the same period last year.