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  • Montpelier Re has made progress in its new US operation as it diversifies from its roots as a Bermudian monoline reinsurer.
  • US start-up insurer SPARTA Insurance Company has been assigned an A- financial strength rating from rating agency AM Best.
  • Listed Lloyd’s insurer Hardy Underwriting Group impressed analysts after upgrading its syndicate forecasts in a “bullish” trading statement on 16 August.
  • According to reports last week, the European Commission (EC) is set to investigate the role of rating agencies over their response to the US sub-prime mortgage crisis.
  • Despite moderate price reductions, the Lloyd’s listed (re)insurer Heritage Underwriting Agency plc’s said rates are “still at very acceptable levels” in its latest syndicate forecasts.
  • The brutal uncertainty in the equity markets, together with the menacing presence of Hurricane Dean, is a reminder of the capricious nature of the (re)insurance business.
  • First half earnings at insurance giant Zurich Financial Services (ZFS) rose by a third to $2.7bn despite the firm suffering a 3.9 percent deterioration in its combined ratio in the second quarter due to UK flood losses.
  • Australian insurer QBE Insurance Group saw its share price jump 11 percent to A$30.52 today (20 August) on the back of record interim results and a surge in equity markets following last week’s sell-off.
  • Shares in Hiscox Ltd increased over 5 percent this morning after the company was propelled to a record half-year profit before tax of £105.6mn, up 72.1 percent, by the stellar performance of its Global Markets division.
  • Karen Clark, the founder of modeling firm AIR Worldwide, has launched an independent company to act as a consultancy for (re)insurers that use catastrophe models.