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  • The heavy burden of first half catastrophes showed through in the financials of reinsurance giants Swiss Re and Munich Re last week, as claims pushed combined ratios north of 100 percent.
  • Lancashire Group delighted analysts with net profit of $93mn and a 77.4 percent combined ratio for the first half of 2010 (51.5 percent for 2Q), which defied the string of losses seen this year.
  • Bermuda-domiciled Hardy Underwriting defied market fears of a loss to eke out a £0.8mn pre-tax profit in H1, despite bruising catastrophe losses in Chile and Australia.
  • Listed Lloyd's insurer Novae Group continued to rebuild profits in the first half of 2010 after a difficult 2009, despite the high catastrophe toll of the past six months.
  • Catlin Group's first half profits fell by $154mn year-on-year to $86mn after being hit with $180mn in combined estimated losses from the Chilean earthquake and Deepwater Horizon catastrophes.
  • UK insurer RSA disclosed a £1.2bn gross loss on the Chilean earthquake disaster as part of its first-half results released last week.
  • London market (re)insurers have become embroiled in a messy dispute involving allegations of fraud and negligence and a potential $50mn claim from a putative terrorist attack on a Russian hydroelectric plant.
  • Industry loss warranty (ILW) pricing has been "unattractive" for both US and international contracts but the Deepwater Horizon oil spill is fuelling rate on line (RoL) increases, Bermudian Flagstone Re said in an investor conference call last week.
  • Argo Group International Holdings has highlighted the deterioration in its medical malpractice business as the major second quarter "disappointment" for its international speciality business.
  • Axis Capital reported a $24mn deterioration in its Chile loss estimate as it booked second quarter operating profits of $180mn - a shade below the $183mn it recorded in the prior-year period.