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  • Fairfax Financial Holdings booked net earnings of $290mn in Q1, despite $182mn cat losses driving its overall combined ratio to 112 percent, as the firm's investment performance came to the rescue.
  • Willis Group Holdings confirmed it is in discussions over selling a portion of its interest in privately held French broker Gras Savoye & Cie.
  • Britain's first dedicated Muslim insurance group, Principle Insurance Company Ltd has officially launched offering motor cover and trading as Salaam Halal.
  • Total insured losses for the wildfires that have plagued Texas since the Labor Day weekend could hit $250mn, according to the Insurance Council of Texas.
  • Bermudian reinsurance ACE Ltd has announced a record net income of $489mn for the first quarter of 2006 despite an $80mn charge to cover an imminent settlement with regulators.
  • The UK insurance outsourcing company Rubicon Corporation has appointed Kroll Corporate Advisory & Restructuring Group as administrators after experiencing trading difficulties. Established in late 2000 by the former chief executive...
  • Scor's first quarter property and casualty (P&C) combined ratio deteriorated to 108.6 percent from 99.4 percent over the same period last year, following large losses from the Chilean earthquake and Windstorm Xynthia.
  • Ratings agency Standard & Poor's (S&P) affirmed its junk ratings on three cat bonds affected by the collapse of Lehman Brothers after their total return swaps were terminated and the scheduled 15 December interest payments were met.
  • Lloyd's insurer Catlin announced on 19 October that it expects to be hit with estimated net losses of $60mn from the damage caused by Hurricane Rita. The group's gross loss estimate for Rita is $90mn with the insurer expecting to receive $30mn from...
  • Shipowners were warned last week about the growing threat of piracy around the Horn of Africa.