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  • Reserve releases by US and Bermudian (re)insurers were up by almost a third in the second quarter of 2010 compared to the prior-year period, according to a review by analysts at Stifel Nicolaus.
  • Lloyd’s insurer Omega Insurance Holdings has reported a maiden loss in the first half of the year as the heavy toll from man-made and natural catastrophes and reserve strengthening pushed the group into the red for the first time.
  • Swiss-based reinsurer Glacier Re's portfolio of business has been placed into run-off with immediate effect, having failed to find a buyer despite being on sale for some time.
  • QBE is lining up former Aon UK chief Peter Harmer to succeed 64-year-old Frank O'Halloran as group CEO, The Insurance Insider can reveal.
  • White Mountains has become the latest Bermudian to beef up its share repurchase programme, as (re)insurers continue to take advantage of depressed valuations to deploy idle capital.
  • Axis Capital is on the hunt for another chief financial officer (CFO) after revealing that David Greenfield has resigned the post.
  • Chaucer's pre-tax first-half profits dived by 59 percent to £7mn in the first six months of the year as its combined ratio widened to 105 percent.
  • Former Beazley Group chief underwriting officer Johnny Rowell has signed up to Pat Ryan's ambitious start-up as it looks to build a London platform, The Insurance Insider can reveal.
  • Lloyd's (re)insurer Amlin leads the cover on the passenger plane that crashed in the Heilongjiang province of China earlier today, The Insurance Insider has learnt.
  • UK watchdog the Financial Services Authority (FSA) has levied a record £2.275mn fine on Zurich Insurance's UK branch for failing to keep client data secure.