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  • Fast growing post-9/11 start-up Endurance reported a 72 percent surge in second quarter net income last week (26 July), booking $114.8mn, or $1.69 a share, compared to $66.8mn or $0.99 a share in the second quarter of 2003.
  • US insurer Markel Corporation is set to unveil a third quarter loss of up to $20mn later this week as it joined a list of (re)insurers announcing reserve increases in the third quarter.
  • Reborn Bermudian Rosemont Re mapped out its progress to date at its annual general meeting last Thursday (10 June), outlining April renewals and plans for the future as it looks to put the past of troubled parent GoshawK Insurance Holdings to rest.
  • French giant Axa saw its earnings outpace projections on the back of strong performance from its property casualty arm as it announced net income of €1bn for 2003, up 6 percent on 2002.
  • Connecticut based insurer WR Berkley filed last Friday to sell up to $750mn in debt securities, common and preferred stock and other securities.
  • KKR-backed Bermudian Alea received a strong endorsement from AM Best and Standard & Poor’s (S&P) last week as the rating agencies affirmed their A- stable outlook financial strength ratings on the (re)insurer.
  • Lloyd’s Members Agency remains hopeful that its innovative Fund will attract sufficient support as syndicates wait in the sidelines Lloyd's members' agent SOC Group extended the deadline for raising funds on its new investment fund yet remains confiden
  • Bruno Purro, chief risk officer at Swiss Re is to step down at the end of the year, to be replaced by Christian Mumenthaler, the giant reinsurer revealed last Thursday (3 June).
  • Lloyd’s (re)insurer Chaucer’s plans to merge its syndicates 587, 1084 and 1096 into one have met with a mixed reception.
  • Tax reform bolsters results but disappointment with Clarendon acquisition gives weight to the Cassandras. Hannover Re, the world’s fifth largest reinsurer, expects gross premium income to grow by 25 percent for 2000 to some €8.4bn. However, pre-tax inc