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Investors diverge on Q2 earnings

The Insider 30 index remained essentially flat last week, falling a mere 0.07 percent, as the second quarter reporting season begun.

Lloyd's (re)insurer Beazley led the charge, with its shares jumping by 7.31 percent after the firm shrugged of challenging market conditions and delivered a 16 percent increase in H1 pre-tax profits to $154.4mn.

RLI's stock also received a results-related boost, rising 4.82 percent after the US specialty carrier beat Wall Street earnings estimates with a Q2 operating profit of $34.1mn or $0.77 a share - up 18.0 percent over the prior-year period.

But not everyone performed as well.

Mapfre's share price tumbled by 9.72 percent in a week in which the Ibero-American carrier's H1 net income fell by 31 percent to EUR315.6mn ($346.72mn). The result was fuelled by weaker performance across most of its segments, together with continued weather losses in the US.

Meanwhile, Allied World traded down by 4.66 percent last week after the Bermudian (re)insurer's Q2 operating profits plummeted by 66 percent to $25.8mn as weather losses hit the company's bottom line.

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