Pre-tax profits at London market carrier Hiscox fell almost 50 percent year-on-year in the first half to £102.6mn ($134.7mn), with the result dented by a currency loss for the period but nevertheless beating forecasts.
Oak Hill Capital Partners has acquired a controlling stake in US retail P&C intermediary Epic Insurance Brokers from fellow private equity house The Carlyle Group in a transaction that sets the firm's worth at nearly $1bn.
Standard & Poor's (S&P) has lowered Markel's corporate rating by one step from BBB+ to BBB following the company's announcements yesterday that it would acquire State National for $919mn in cash and an industrial farm based in Miami for an estimated $255mn
Revenues at Marsh & McLennan Companies (MMC) reinsurance arm Guy Carpenter rose 4 percent year-on-year in the second quarter to $293mn as group earnings per share met forecasts.
Market behaviour in recent renewals suggests Bermudian carrier RenaissanceRe's greatest growth is behind it "for the foreseeable future", according to the company's chief executive Kevin O'Donnell.
