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  • Berkshire Hathaway has revealed nearly $600mn of losses from the heavy toll of cat events for the first half of 2010, while continuing to rein in its reinsurance capacity because of poor pricing.
  • German insurance leviathan Allianz Group reported a 22.7 percent rise in operating profit to EUR2.2bn for the second quarter
  • Allied World Assurance Company Holdings (AWAC)'s net income for the first six months of the year grew to $317.7mn, up from $245.1mn in H1 2009.
  • Competitive conditions continue to prevail in the US P&C market, with the composite rate measuring down 3 percent year-on year in July, according to information provider MarketScout.
  • American International Group (AIG)'s general P&C business, Chartis, reported a healthy $955mn in operating income for the second quarter and a combined ratio that fell from 102 percent to 98.2 percent.
  • Bermudian (re)insurer Validus regained traction in the second quarter, returning a positive result after taking a heavy $306mn hit in the first three months on the Chilean earthquake and other cat losses.
  • 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.
  • Ex-Besso broker Timothy Barker has been jailed for three-and-a-half years for inflating performance figures to boost his bonuses.
  • UK insurer RSA has disclosed a £1.2bn gross loss on the Chilean earthquake disaster as part of its first-half results released today (5 August).
  • 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.