August 2007/1

The process of extending the federal backstop to terrorism-related losses took an important step forward when the US House Financial Services Committee voted for an additional 15 years instead of 10, last week.

Lloyd's Franchise Performance director Rolf Tolle has committed to another two years in the role, ending the recent uncertainty over his future.

Bermudian firm RenaissanceRe Holdings Ltd (RenRe) has upped its estimates for catastrophe reinsurance business after writing more premiums than expected in the first half of the year.

Bermuda's Endurance Specialty Holdings Ltd reported net profits of $135.5mn for the second quarter, more than doubling the $64.1mn it posted in the prior-year period as it continued its drive in specialty business.

German financial services group Allianz posted a 17.7 percent increase in operating profit to EUR3.3bn for the second quarter of 2007, but reported net income down by 6 percent.

Geoff Bromley, the chairman of Guy Carpenter’s European and Asian operations, is to join Aon, Insider Week can reveal.