August 2009/1

Lloyd's (re)insurer Advent reported increased pre-tax profits of £5.7mn for the first half of the year, compared to £1.6mn in the same period of 2008.

The twin pressures of a lingering soft market and recession have pinned back organic growth at global broking giants Aon and Willis.

Improved conditions in the financial markets during Q2 helped Validus Holdings regain lost value in its investment portfolio, as strong unrealised gains helped net income climb 81.2 percent...

Lancashire Holdings expressed surprise at the markedly reduced demand for Gulf of Mexico (GOM) energy wind cover it experienced in the second quarter...

A trio of Bermudian (re)insurers - RenaissanceRe, Montpelier Re and Endurance Specialty Holdings - booked higher Q2 net income, bolstered by reserve releases and improving investment conditions.

Brit Insurance Holdings said it was enjoying organic growth in its three main trading divisions, while again reassuring investors on the development of its sub-prime/financial liability exposures.

Shares in Novae Group traded down last week after the Lloyd's insurer posted a £2.1mn loss for the first half, driven by a £26mn hit from aviation reinsurance and credit insurance claims...

The liability claim from the Tupolev Tu-154 passenger aircraft that crashed in north-western Iran on 15 July, killing all 168 on board, is currently estimated at up to $55mn, The Insurance Insider understands.

US insurance premiums are still under pressure as demand falls in the ongoing economic difficulties, according to the latest authoritative survey by the Risk and Insurance Management Society (RIMS).

The predictions of a truly hard reinsurance market have failed to materialise and 2010 could even see the market soften, according to predictions made last week.

White Mountains Insurance Group is restructuring its reinsurance business by converting its Bermudian reinsurance arm into a branch of White Mountains Re Sirius.

XL Capital's second quarter net profits plunged 66 percent year-on-year from $237.9mn to $79.9mn, as the bottom line was dented by foreign exchange losses and a fall in net investment income.