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  • Specialty insurer WR Berkley saw profits slip by a modest 4 percent to $94mn in the third quarter, as it resisted the downward pressure that softening rates and torpid investment returns have been placing on bottom lines.
  • Warren Buffett’s investment giant Berkshire Hathaway posted second quarter income down 42 percent to $1.82bn, or $834 a share on last year, largely as a result of lower investment gains, but the group’s insurance operations continue to thrive, contributin
  • Tower Group booked operating profits for the fourth quarter of $25.0mn or $0.63 a share that were down on the $33.3mn or $0.80 a share in the prior-year period but shaded analysts' consensus of $0.62 a share.
  • Cooper Gay is to press ahead with an initial public offering (IPO) in New York as early as next year, once it completes its imminent merger with US wholesaler Swett & Crawford, The Insurance Insider understands.
  • Berkshire Hathaway has had its “AAA” long-term issuer and unsecured senior debt ratings outlook downgraded from stable to negative by ratings agency Fitch. In an announcement dated 19 April, Fitch said the downgrade also applied to Berkshire’s wholly o
  • Despite the imminent arrival of Alterra Group - formed by the merger of Bermudians Max Capital and Harbor Point - market conditions are continuing to discourage M&A activity in the property and casualty (P&C) sector.
  • Brit Insurance and Apollo Management were embroiled in a messy insurance dispute shortly before the New York buy-out firm made an unwelcome bid for the UK insurer, it has emerged.
  • Alterra Capital has announced combined net pre-tax losses of $26mn-$38mn arising from the first quarter New Zealand and Australia catastrophes, but has said it is too early to produce an estimate for exposures to last week's Japan quake and tsunami
  • With a focus on capital management, this publication examines the dynamics and trends impacting the (re)insurance industry's balance sheet, as the sector strives to find the delicate balance between efficient use of capital and share buybacks and maintaining a buffer for challenges ahead...
  • (Re)insured loss estimates from the severe drought in the US range from $5bn to $20bn, reflecting the huge uncertainty that surrounds the fiendishly complicated loss.