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  • Lloyd’s specialty property and casualty insurer Markel International has become the first insurer of 2004 to sign up to the Kinnect Platform.
  • Carve-out losses continue to haunt CNA Reinsurance Company took a further $18mn reserve charge in its 2nd quarter results for ongoing workers compensation exposures written on the IGI programme between 1997-1999.
  • US insurer The Hartford reported strong second quarter results, as a $118mn after-tax casualty reinsurance recoverables charge was more than outweighed by performance in its property casualty division and the continued strength of its life operation.
  • Bermudian-based start-up Quanta Capital Holdings reported its maiden net profit last week (2 August), booking $1.8mn, or $0.03 net income a share for the second quarter of 2004, compared to a $4.5mn net loss in the first quarter of the year. Excluding net
  • Canadian financial services holding company Fairfax Holdings has reported a 74 percent fall in second quarter profits against the same period in 2003 when the company recorded big investment gains.
  • Warren Buffett’s investment giant Berkshire Hathaway posted second quarter income down 42 percent to $1.82bn, or $834 a share on last year, largely as a result of lower investment gains, but the group’s insurance operations continue to thrive, contributin
  • Senior Willis executives continued to sell their stock in the New York Stock Exchange listed broker, last week.
  • On 4 August Platinum Underwriters said net profits for the second quarter of 2004 had reached $49.8mn, or $1.01 per share, against $26.6mn, or 57 cents per share for the second quarter of 2003.
  • UK risk managers association AIRMIC has hit back at the Treasury after it declined to automatically exempt UK risk managers from being regulated by the European Insurance Mediation Directive.
  • In its debut reporting as a combined entity, merged US insurer The St Paul Travelers Companies announced a second quarter loss last Wednesday (4 August), after concluding its recently revealed $1.587bn pre-tax reserve adjustment would have to be charged a