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  • Royal Bank of Scotland's up-for-sale insurance division said operating profits leapt from £258mn to £403mn at the half-year stage although revenues were down slightly on business distributed by brokers and partners.
  • Catlin Group Ltd's pre-tax profits fell by $40mn in the first half of 2008 in what one analyst has called a "mixed bag" of results for the Bermudian-headquartered (re)insurer.
  • American International Group (AIG) shares are on course for their biggest single daily fall on record as investors reacted to the insurance giant’s announcement of a $5.36bn loss on heavy credit and investment writedowns.
  • A 23 percent rise in first-half post-tax profits for RSA Insurance Group plc could make it a potential merger & acquisition (M&A) target, says Keefe, Bruyette & Woods (KBW) analyst Grieg Paterson.
  • Hannover Re's operating profit was down 14.4 percent in the first half of 2008 to EUR400mn after being hit by a 24.1 percent fall in investment income in the period as the German reinsurance giant missed analyst targets.
  • Marsh & McLennan Companies Inc (MMC) has confirmed that at least 2,000 jobs will be cut in 2008 after announcing a further 900 positions will be axed.
  • Shares in American International Group (AIG) are set to suffer in trading today after the US giant booked a higher than expected $5.36bn net loss driven by more than $12bn in credit and investment writedowns.
  • Despite 30 percent growth in its marine, energy and power book, Benfield Corporate Risk continued to be a loss-maker for the reinsurance intermediary in the first half of 2008.
  • German insurer Allianz Group's net earnings fell 28 percent to EUR1.5bn in the second quarter of 2008, due mainly to a poor result in its banking arm, Dresdner Bank, which reported a EUR566mn operating loss for the period.
  • The recent leadership changes at Marsh & McLennan Companies (MMC) and its insurance broking unit Marsh appear to be having an impact on performance, with increased revenues and operating profits in the second quarter.