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There are 68,259 results that match your search.68,259 results
  • AIG restates again after $500mn discovery
    American International Group (AIG) is to restate its financials for the second time this year after finding an additional £500mn of income through accounting errors. The company explained that the discovery would delay the filing of its Form 10-Q...
    14 November 2005
  • Cologne Reinsurance downgraded
    Dublin-headquartered Cologne Reinsurance Ltd had its financial strength rating downgraded to A- from A++ by AM Best on 7 November. The ratings agency also downgraded the reinsurers credit rating to a- from aa+ and the firm remains under review with...
    14 November 2005
  • Benfield shows primary ambition with energy move
    Broker Benfield announced last week (8 November) the recruitment of an eight-strong energy casualty team to its recently established primary brokerage operation Benfield Corporate Risk, putting it in a position to respond to likely increased demand in...
    14 November 2005
  • Decision to drop BAIC appeal leaves some uncertainty
    The advisors to a controversial scheme of arrangement have withdrawn their appeal leaving an untidy High Court decision apparently at odds with legal developments. When the proposed British Aviation Insurance Company (BAIC) scheme of arrangement...
    14 November 2005
  • Equitas threat to Lloyd’s rating
    Run-off vehicle Equitas could face a worst-case scenario where it was under-capitalised by £500mn warned rating agency Standard & Poor’s (S&P). And the fear of that possibility remains one of the biggest threats to Lloyd’s A rating, which is...
    14 November 2005
  • Hannover profits blown out by storms
    Operating profit at Hannover Re has plummeted by 84.4 percent to EUR63.8mn for the year up to 30 September the company announced on 10 November. Profits at the reinsurer were hit by a third quarter catastrophe loss of EUR781.4mn, with losses for...
    14 November 2005
  • Hiscox confirms launch of $500mn Bermudian (re)insurer
    Lloyd’s insurer Hiscox plc has announced a £170mn rights issue and the formation of a $500mn capitalised Bermudian (re)insurer to exploit the post-storms rating environment. As first revealed by Insider Week last Monday, Hiscox will become the...
    14 November 2005
  • Established Bermudians continue to be struck by post-storms downgrades
    Ratings agency Fitch has joined rival AM Best in downgrading Bermudian reinsurers Montpelier Re and PXRE as a result of the recent US hurricanes. Montpelier Re’s financial strength rating was downgraded by two notches from A- to BBB on 3 November...
    14 November 2005
  • Flagstone Re recruits heavy hitters
    Capital raising would appear to have been the easy part for Bermuda’s Class of 2005, as the island’s newest entrants are confronted with the dual challenges of staffing and housing start-up operations. However, despite Bermuda’s incumbent players...
    14 November 2005
  • Talanx to buy Gerling’s insurance operations
    Talanx is reported to have trumped the aggressive US buy-out firm Cerberus Capital Management for the prize of fellow German insurer Gerling Group. Talanx – which is reducing its majority stake in reinsurer Hannover Re – has not revealed terms of...
    14 November 2005
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