August 2006/1

Berkshire Hathaway more than doubled its reinsurance business in the first half of 2006 as it exploited the capacity crunch felt for US property catastrophe business.

Bermuda-based White Mountains Re has reshuffled its management team, with Chuck Chokel, previously managing director and general auditor at parent White Mountains Insurance Group, appointed...

Bermudian giant XL Capital last week (1 August) announced the latest step in a series of organisational changes with plans to develop an integrated European platform for its reinsurance operations.

The conflict in Lebanon has prompted London market cargo underwriters to increase additional premiums by as much as triple on shipments to Israel, according to Aon Corp.

US insurer HCC Insurance Holdings reported "record" results on 3 August and at the same time announced its latest acquisition, the medical insurance division of Allianz Life.

Jardine Lloyd Thompson Group plc (JLT) plans to overhaul its staff pension scheme in a bid to reduce the £146mn deficit which hangs over the company.

Strong growth from reinsurance was a key positive from MMC's second quarter results, but overall broking revenues were down on falling insurance rates and loss of clients in its European operations.

An improved performance in the property and casualty division fuelled a 16 percent rise in net income at Swiss Re, when it announced its half-year profits of SFr1.6bn on 4 August.