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  • Start-up broking outfit Integro continued its roll-call of new employees this week, announcing the appointment of John Zaffino, John (Jack) Green, and Gregory Sinnott from rival Willis to its New York office.
  • Leading Lloyd's IT provider Room Solutions is looking for a buyer, Insider Week can reveal.
  • A benign quarter for catastrophes and strong investment returns has helped propel US insurer St Paul Travelers (STA) to a record second quarter profit of £1.07bn.
  • Bermudian reinsurer PXRE has announced growth in net income to $43.5mn, or $1.30 per diluted share, compared to $32.3mn, or $1.20 per diluted share, in the second quarter of 2004.
  • Property catastrophe specialist IPC Re last week (26 July) reported net income of $64.1mn or $1.32 a share, down on the $74.1mn or $1.53 a share booked in the second quarter of 2004.
  • Wellington spin-off Aspen Re last week (27 July) reported second quarter net earnings of $83.8mn, or $1.16 a share, marginally ahead of the $80.9mn booked in the same period last year.
  • On the face of it, the scrutiny surrounding RenaissanceRe and its chairman and CEO Jim Stanard failed to halt the Bermudian’s progress in the second quarter of 2005 as it reported $172.0mn net income and $170.4mn operating income –up on the $148.1mn and..
  • As expected, Bermudian giant XL Capital last week (27 July) reported a 68 percent drop in second quarter earnings as the $191mn pre-tax reserve charge revealed earlier in the month fed through to the bottom line.
  • World's largest insurance broker Marsh & McLennan has announced that it will pay its new chief executive Michael Cherkasky at least $3.5mn in salary and bonus for 2005 under a new three-year employment contract.
  • Australian reinsurer QBE has bought National Farmers Union Property and Casualty Co (NFU), a small US insurer, for about $140mn in order to boost premium income.