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Berkshire profits surge, but premiums feel pinch
Berkshire Hathaway reported second quarter profits up almost 33 percent on the back of the continued strength of performance in its (re)insurance division.
06 August 2007
Munich reports low cat/sub-prime exposure
In a further sign of the relatively low impact of June's UK floods on the major European reinsurers, Munich Re reported a second quarter hit from major losses of EUR111mn as it posted flat net profits of EUR2.1bn for the half-year and raised...
06 August 2007
FSA urges client advocates for solvent schemes
UK regulator the Financial Services Authority (FSA) has recommended the appointment of policyholder advocates for non-life schemes of arrangement.
06 August 2007
Lloyd's director joins ACORD board
Sue Langley, director, Market Operations and North America at Lloyd's has been appointed to the ACORD board.
06 August 2007
Usagi losses expected to be below $500mn
Insured losses from Typhoon Usagi, which battered the southern Japanese island of Kyushu last week, are expected to be below $500mn, according to catastrophe modeling firm AIR Worldwide.
06 August 2007
Lancashire passes cat tests to quadruple profits
"Class of 2005" insurer Lancashire Holdings Ltd says it has completed the transition from start-up to specialty global insurer by passing recent catastrophe tests to post a hike in half-year profits.
06 August 2007
CNA shares hit following investment losses
US (re)insurer CNA Financial Corporation's share price tumbled last week, as it announced disappointing second quarter results, including net investment losses of $91mn.
06 August 2007
Re-Ex sees first cat option transaction
Last week saw the first trade of a catastrophe options contract using the Re-Ex index developed by broker Gallagher Re with commodities exchange NYMEX in an over the counter (OTC) transaction.
06 August 2007
$500mn sidecar launched with new structure endorsement
The industry's latest sidecar, the $500mn Emerson Re, has been rewarded for its structure by the rating agency Standard & Poor's (S&P).
06 August 2007
Munich reports low cat/sub-prime exposure
In a further sign of the relatively low impact of June’s UK floods on the major reinsurers, Munich Re reported a second quarter hit from major losses of EUR111mn as it posted flat net profits of EUR2.1bn for the half-year and raised 2007 earnings targets.
06 August 2007
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