Aspen Profit

Aspen Insurance Holdings Ltd. on Wednesday reported $91.4 million in net income for the first quarter of 2009, a 12.6% rise compared with the same period in 2008.

Gross written premiums were up 6.8% in the period to $636.8 million, while net earned premiums rose 14.2% to $447.3 million, the Hamilton, Bermuda-based insurer and reinsurer said.

Aspen’s property reinsurance segment reported a 19.7% rise in gross written premiums to $220.5 million in the quarter, which it attributed to improving market conditions and favorable prior-year premium development.

Gross written premiums in Aspen's casualty reinsurance operations increased 2.6% to $186.8 million.

For its insurance business, Aspen's U.S. insurance segment reported a 13.7% increase in gross written premiums to $34.8 million in the quarter. But its international insurance segment saw gross written premiums slide 2.3% in the quarter to $194.7 million.

Aspen's combined ratio improved to 84.5% in the quarter vs. 85.4% in 2008, it said.

Mexico, Flu pandemic imminent

Mexican President Felipe Calderon told his people to stay home from Friday for a five-day partial shutdown of the economy, after the World Health Organisation said a swine flu pandemic was imminent.

Mr. Calderon ordered government offices and private businesses not crucial to the economy to stop work to avoid further infections from the new virus, which has killed up to 176 people in Mexico and is now spreading around the world.

"There is no safer place than your own home to avoid being infected with the flu virus," Mr. Calderon said in his first televised address since the crisis erupted last week.

Twelve countries have reported cases of the H1N1 strain, with the Netherlands the latest to join the list. It said a three year-old child had contracted the virus.

Switzerland also confirmed its first case on Thursday, saying a man returning from Mexico had tested positive for the flu. Peru reported the first case in Latin America outside Mexico.

Texas officials on Wednesday reported the first swine flu death outside Mexico, a 22-month-old Mexican boy on a visit.

The WHO raised the official alert level to phase 5, the last step before a pandemic. "Influenza pandemics must be taken seriously precisely because of their capacity to spread rapidly to every country in the world," WHO Director General Margaret Chan told a news conference in Geneva on Wednesday.

"The biggest question is this: how severe will the pandemic be, especially now at the start," Ms. Chan said.

The world "is better prepared for an influenza pandemic than at any time in history", she said. WHO has stopped short of recommending travel restrictions, border closures or any limitation on the movement of people, goods or services.

Demotech releases report

The collapse of the financial markets compounded these losses in operations and consequently led to a decrease in Net Investments of 28 percent for all companies from the previous year. These results contributed to a Net Loss of nearly $400 million for the industry. While all of the NAIC Title underwriter groups reported a Net Loss, the unaffiliated Title underwriters combined for a Net Gain.

Demotech releases report

The collapse of the financial markets compounded these losses in operations and consequently led to a decrease in Net Investments of 28 percent for all companies from the previous year. These results contributed to a Net Loss of nearly $400 million for the industry. While all of the NAIC Title underwriter groups reported a Net Loss, the unaffiliated Title underwriters combined for a Net Gain.

here's a RESPA question for you

NAMB announces:On Tuesday, April 28, 2009, the House Financial Services Committee voted in favor of attaching an amendment to H.R. 1728, "The Mortgage Reform and Anti-Predatory Lending Act of 2009" that would withdraw the Final RESPA Rule. The amendment, offered by Representative Judy Biggert (R-IL), stated that the Department of Housing and Urban Development (HUD) should work in conjunction with

here's a RESPA question for you

NAMB announces:On Tuesday, April 28, 2009, the House Financial Services Committee voted in favor of attaching an amendment to H.R. 1728, "The Mortgage Reform and Anti-Predatory Lending Act of 2009" that would withdraw the Final RESPA Rule. The amendment, offered by Representative Judy Biggert (R-IL), stated that the Department of Housing and Urban Development (HUD) should work in conjunction with