GOSHAWK SINKS TO £30M FIRST-HALF LOSS

Lloyd’s and Bermudian insurer and reinsurer Goshawk Insurance Holdings has reported a first-half loss of £30.8m, marking a reversal on its year-earlier profit of £6.3m. Chief executive Chris Faban admitted that the group had taken “considerable pain” in the period but forecast a return to profitability in the year’s second half. Its problems in the first half of the year in part reflected Goshawk’s strengthening of reserves on syndicate 102, but did not expend so far as its Bermudian operation Goshawk Re, which performed “ahead of the board’s expectations” in posting an operating profit of £14.2m.