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  • US insurer HCC Insurance Holdings Inc saw its first half profits drop to $173.4mn, compared to $197.9mn in the prior-year period, as the credit crunch took its toll.
  • The acquisition of Lloyd's insurer Talbot is continuing to drive increased profits at "Class of 2005" Bermudian reinsurer Validus Reinsurance Ltd.
  • UK independent broker Heath Lambert has reported "steady and consistent progress" in half-year 2008 performance, despite the sale of its wholesale/reinsurance units over the period.
  • Worldwide industrial and natural catastrophe losses helped dent Bermudian (re)insurer Allied World Assurance Company Holdings, Ltd (AWAC), which saw net income drop in the first half of 2008 to $210.2mn, against $237.2mn in the prior-year period.
  • Bermudian Argo Group International Holdings posted a first-half profit of $59.9mn for 2008 - a 30 percent increase despite being hit by storm losses.
  • Beazley's underwriting team is set to suffer its second senior staff loss of the summer with the forthcoming departure of commercial property underwriter Alastair Blades to join US insurer W R Berkley.
  • CNA Insurance Co and American Reliable are suing Willis for $275mn and $251mn respectively over allegations relating to their placement of toxic Personal Accident spiral and workers' compensation business in 1996-1998.
  • Every analyst is entitled to at least one blooper - so the UBS trio Andrew Kligerman, Julie On and Brian Meredith deserve a degree of sympathy after their upbeat assessment of American International Group's prospects on the eve of the insurer's results.
  • As the remainder of the (re)insurance industry's second quarter results trickle through in the coming weeks, a clear distinction is emerging between winners and losers in the sector against the backdrop of a soft market and the deepening credit crunch.
  • Aon Re Global has announced the appointment of former Guy Carpenter MD and deputy head of its international department Christer Pehrson as executive director.