August 2005/1

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.

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.

A benign quarter for catastrophes and strong investment returns has helped propel US insurer St Paul Travelers (STA) to a record second quarter profit of £1.07bn.

Bermudian reinsurer PartnerRe said it expects to write 5-10 percent less business in this year than in 2004, as it reported second quarter 2005 net income of $159.9mn or $2.72 a share, up from $119.8mn or $2.12 a share in the same period last year.

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.

On the face of it, the scrutiny surrounding RenaissanceRe and its chairman and CEO Jim Stanard failed to halt the Bermudian’s progress in the second quarter of 2005 as it reported $172.0mn net income and $170.4mn operating income –up on the $148.1mn and..

Investors rarely react well to steep profit falls, but shares in UK headquartered broker Jardine Lloyd Thompson group plc climbed 5.5 percent last week despite a 29 percent slump in trading profits.

Start-up broking outfit Integro continued its roll-call of new employees this week, announcing the appointment of John Zaffino, John (Jack) Green, and Gregory Sinnott from rival Willis to its New York office.

Leading Lloyd's IT provider Room Solutions is looking for a buyer, Insider Week can reveal.

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.

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.

Montpelier Re Holdings Ltd has reported net income of $108.7mn, or $1.62 diluted earnings per share, for the three months to June 30, 2005 and net income of $183.2mn, or $2.72 diluted earnings per share, for the half of 2005