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  • Shares in IPC Holdings fell sharply last week as the Bermudian cat reinsurer followed a profits warning earlier this month with confirmation last week of a second quarter net hits of $62.6mn and $50.1mn respectively from UK and Australian storms and flood
  • Contrasting performance on organic growth was highlighted by analysts as Arthur J Gallagher & Co (AJG) and Hilb, Rogal & Hobbs (HRH) reported total revenues up for the second quarter.
  • Bermudian (re)insurer Arch Capital Group reported a healthy 44 percent rise in its net income of $199.4mn, or $2.65 per share, for the second quarter of this year.
  • Shares in Lloyd’s (re)insurer Beazley Group plc rose by around 6 percent this morning (30 July) as it reported a doubling of profits in the first half of 2007 on the back of income growth, low claims and rising investment income.
  • Resurgent UK insurer Royal & Sun Alliance Group saw its shares slide last week against a backdrop of fears over flood losses and jittery investors following the turmoil in the global credit markets.
  • Fast-growing Australian (re)insurer QBE Insurance Group Ltd has entered into a Joint Venture Agreement with the Rajan Raheja Group (RRG) to establish a general insurance company in India.
  • Nottingham headquartered insurer IGI Group Ltd has closed its London office 18 months after it first opened as an underwriting branch.
  • Markel Group has seen AM Best upgrade its financial strength rating on its London-based platform Markel International Insurance Co Ltd.
  • Senior run-off figure Oliver Horbelt has left insurance giant Zurich Financial Services, Insider Week can reveal.
  • QBE has demanded major reform at Lloyd’s after complaining that the Society’s members’ agents refused to recommend an increased bid to buy out Names’ capacity on its flagship Syndicate 386.