August 2010/3

Allied World Assurance Company Holdings has bought $250mn worth of shares back from founding investor Goldman Sachs, after posting first-half net income growth of 30 percent last week.

American International Group (AIG) is in talks with potential investors to sell stakes in its AIA Asian life division ahead of its planned initial public offering (IPO), according to reports.

Lockton has claimed a 5 percent increase in organic revenues for its 2009/10 financial year.  

Mortgage-backed securities (MBS) writedowns have continued to overshadow discontinued (re)insurer the Alea Group, with first half net losses deepening to $50mn from $45mn a year earlier.

Caribbean insurer Sagicor has increased its net loss estimates on the Chilean earthquake disaster to $10mn in its half-year results, up from an earlier estimate of $8mn.

Troubled Canadian insurer Kingsway Financial Services (KFS) has posted a second quarter net loss of $19mn, compared to a $38mn deficit in the same period last year, amid underwriting and disposal losses.

Tokio Marine Holdings has booked a 60 percent increase in second quarter profit to Yen56.41bn, as it plans to expand overseas and enjoys signs of recovery in the Japanese economy.

Hannover Re has more than doubled its estimated hit from the Deepwater Horizon oil rig disaster, increasing its loss reserves to EUR89mn in the second quarter from an earlier EUR40mn prediction.

Omega Insurance Holdings has issued a profits warning to investors as it anticipates losses of $35mn for the first six months of the year.

"Transformation is an expensive business" a senior broking executive once explained to The Insurance Insider after we revealed his firm had received a cash injection from its parent after a reorganisation had gone over budget.

Lloyd's insurers have adopted wildly different strategies in their reliance on reinsurance, with some carriers ceding proportionately more than twice as much as their Lime Street rivals, research by The Insurance Insider reveals.

RSA's attempt to swallow up large swathes of Aviva's non-life business in a transformational multi-billion pound deal looks like a long shot, according to analysts.