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  • US (re)insurance group The Hartford Financial Services announced last Wednesday that profits for the second quarter increased nearly threefold on the same period last year.
  • Bermudian reinsurer Partner Re has followed a solid first quarter with a stronger second quarter performance, comfortably beating analysts’ expectations.
  • The future of Trenwick Managing Agents Ltd was secured last week, after the Lloyd’s insurer’s management agreed a buy-out from its distressed parent, Trenwick Group Ltd.
  • In the wake of alleged dubious selling practices from the notorious claims manager The Accident Group, a recent study has concluded that at least a third of all claims against local councils may be fraudulent or exaggerated.
  • In a report last week, Hartford Investment Management Company – a subsidiary of US insurer The Hartford Financial Services Group – counselled against complacency over inflation.
  • Quoted Lloyd’s insurer Amlin is upbeat about its 2003 prospects, as the company updated its forecasts for the 2001 and 2002 years.
  • Although the power outage that affected much of New York, the Eastern United States and Canada will inevitably result in losses to the insurance industry, they are unlikely to be catastrophic.
  • London’s company market insurers have expanded their underwriting exposures in the wake of the improved rating environment, according to figures released from the representative body, the International Underwriting Association.
  • Berkshire Hathaway, the holding company run by billionaire investment guru Warren Buffett, announced last Friday that profits had more than doubled in the second quarter of 2003.
  • South African insurance broker Alexander Forbes has launched a joint venture with PDS Holdings which plans to become Africa’s largest reinsurance broker, the firm announced last week.