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  • Berkshire Hathaway reported second quarter profits up almost 33 percent on the back of the continued strength of performance in its (re)insurance division.
  • 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...
  • UK regulator the Financial Services Authority (FSA) has recommended the appointment of policyholder advocates for non-life schemes of arrangement.
  • Sue Langley, director, Market Operations and North America at Lloyd's has been appointed to the ACORD board.
  • 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.
  • "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.
  • 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.
  • 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.
  • The industry's latest sidecar, the $500mn Emerson Re, has been rewarded for its structure by the rating agency Standard & Poor's (S&P).
  • 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.