August 2005/1

French aviation insurer La Reunion Aerienne is understood to be the lead insurer of the Air France passenger jet that crash landed in Toronto yesterday in atrocious weather conditions, according to sources.

The honeymoon period for new Aon chief executive Gregory Case continued today (3 August) after shares in the broking giant soared 16 percent on a strong second quarter.

US insurer Allmerica Financial Corp, announced last week that second quarter profits had more than doubled on the back of strong growth in the company's property and casualty segment.

American insurer WR Berkley Corp announced a second-quarter earnings increase of 26 percent last Monday (25 July) and confidently predicted high returns into 2006.

Helped by a 6 percent increase in net premiums written to $3.1bn, US insurer Chubb saw operating profits rise to $461mn, or $2.28 per share, from $341mn, or $1.77 a share, for the year earlier period.

Bermudian reinsurer PXRE has announced growth in net income to $43.5mn, or $1.30 per diluted share, compared to $32.3mn, or $1.20 per diluted share, in the second quarter of 2004.

Everest Re reported stable second quarter operating income last week (25 July), earning $173.3mn or $3.03 a share, compared to $174.4mn or $3.07 a share in the prior-year-period.

Hamilton headquartered reinsurance giant ACE came out ahead of consensus to book a 13 percent increase in operating profit to $443mn, or $1.50 per share, in its latest set of quarterly results. This compared with operating profits of $391mn, or $1.33 per

But filings reveal extent of contingent commission loss

A devastating fire totally destroyed a vital oil platform off India’s west coast on Wednesday (July 25) and killed at least 12 people.

Jardine Lloyd Thompson group plc plans to separate its reinsurance division into a new trading operation, JLT Re, that will begin trading next year as the broking group continues its drive to grow its reinsurance market share.

CNA Surety Corporation has announced that it made a net loss for the second quarter of 2005. The loss of $11.9mn, or 28 cents a share, compared to net income of $10.2mn, or 24 cents a share, for the same period last year.