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  • French reinsurer SCOR has increased its ownership to 96.23 percent of Swiss firm Converium Holdings after the second offer period of its takeover.
  • Lloyd's insurer Ascot Underwriting is set to open an office in Houston, Texas as it aims to secure locally placed energy business.
  • 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 insurer Markel Corp posted second quarter net profits of $121mn or $12.15 a share, up from $90.4mn or $9.11 a share in the prior-year period, as it announced plans for its Lloyd's operation to open up a Singapore office.
  • 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).
  • UK insurers have finally confirmed this week that they will increase rates following this summer’s flooding which is estimated to cost the industry around £3bn.
  • Geoff Bromley, the chairman of Guy Carpenter’s European and Asian operations, is to join Aon, The Insurance Insider can reveal.