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  • Hiscox used its newly launched Bermudian special purpose insurer Kiskadee Re to complete several collateralised reinsurance transactions at the June renewals
  • Bermudian insurer Lancashire Holdings Ltd has trumped analysts’ expectations with first quarter pre-tax profits of $86.4mn, only marginally down on the $88.3mn it booked in the prior-year period.
  • Bermudian reinsurers Everest Re Group and PartnerRe Ltd emerged relatively unscathed from high-profile second quarter Australian and UK cat events to report net earnings increases of 28 percent and 35 percent, respectively, for the period.
  • French (re)insurance giant AXA reported strong first half results for 2007 on a comparable basis with 2006, boosted further by the successful integration of Winterthur.
  • Kerrie Kelly is to step down as director general of the Association of British Insurers (ABI) barely six months after taking the role.
  • Berkshire Hathaway has had its AAA counterparty credit rating downgraded a notch by Standard & Poor's (S&P) due to the "very high" risk associated with its $26bn debt-funded acquisition of railway operator Burlington Northern Santa Fe.
  • Allianz net profit up in revised results German insurer Allianz reported a 35 percent increase in profits in its revised first quarter results on 12 May. Net profit rose to EUR1.78bn this year from EUR1.32bn in the prior-year period.
  • Integro Ltd, the US insurance broker formed in response to the regulatory scrutiny in to the broking industry, is to recruit between 50-100 executives to build a new global wholesale and facultative reinsurance group, The Insurance Insider can reveal.
  • The Sydow Firm is suing Lloyd's of London and the Society's legal representative Akin Gump Strauss Hauer & Feld over unpaid legal fees relating to its defence of former Texan billionaire Sir Allen Stanford.
  • An exceptionally heavy first half for earthquakes and storms has generated a record $22bn of insured losses from natural catastrophes, according to figures compiled by Munich Re.