November 2007/1

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.

Following a hearing in the UK High Court last week, Marsh Ltd will be forced to defend itself on charges of poaching a senior aviation team and confidential business information from rival firm United Insurance Brokers (UIB) in a trial scheduled to...

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.

Bermudian insurance start-up Ironshore Inc has made a significant step in its roll-out strategy with its acquisition of a US admitted insurer Stockbridge Insurance Company from Folksamerica Reinsurance Co.

Australian (re)insurer QBE has rebranded its European operations which means the loss of the name of its Lloyd's (re)insurance arm, Limit.

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

Integro has taken on two international property brokers John Millar and Andrzej Danyluk from reinsurance broker Guy Carpenter.

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.

"Class of 2005" insurer Lancashire Holdings Ltd said the third quarter had been its "best yet" with net income of $105.2mn up 100 percent from $52.6mn in the prior-year period.

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 (re)insurance sector will watch developments in Bermuda with interest over the coming weeks after premier Ewart Brown called a general election for 18 December.

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.