November 2007/1

US insurer Liberty Mutual Group has boosted its asbestos reserves by $67mn post-tax following the completion of a "comprehensive ground-up study", it revealed in its third quarter results.

Despite a general weakness in bancassurance business, Italian insurance giant Assicurazioni Generali has shown "solid" progress in its year on year nine month results.

Bermudian-headquartered (re)insurer, AXIS Capital Holdings Ltd, reported a 19 percent increase in operating income for the third quarter of 2007, capping eight straight quarters of "record profitability", according to its president and CEO, John Charman.

Swiss Re, which reports its third quarter figures tomorrow (6 November) is expected to generate net attributable earnings of SFr1.01bn and pre-tax profits of SFr1.35bn - down from SFr1.55bn and SFr2.07bn respectively in the prior-year period...

Reinsurance broker Guy Carpenter is developing five different trading indices with the first European index looking to go live as early as six months time.

China Reinsurance Group, the country's largest reinsurer, is planning an initial public offering (IPO) after inviting "strategic" investors to buy stakes, according to a statement from the company last week.

Fast-expanding (re)insurer MAPFRE SA announced its boldest move yet when confirming last week its $2.2bn acquisition of the Massachusetts-based non-life personal lines insurer The COMMERCE Insurance Company.

The board of Willis Group Holdings has approved a new $1bn stock buyback plan.

Although Berkshire Hathaway reported a 64 percent hike in third-quarter net income late Friday (2 November), underwriting profits from its (re)insurance operation nearly halved, falling from $917mn to $486mn.

The management of German giant Munich Re is confident that the firm will return record profits for 2007 after posting "excellent results" so far this year.

Shares in US insurance giant, American International Group Inc (AIG), continued its rollercoaster ride on the New York Stock Exchange last week, twice plumbing the depths of new 52-week lows as investor unease mounted over the group's sub-prime...

Canadian conglomerate Fairfax Financial Holdings Ltd bounced back to a third quarter profit of $253.2mn from a loss of $359.2mn in the prior-year period.