April 2008/3
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Munich Re warned its first quarter 2008 profits are likely to be down on last year's, following "major losses" in the first three months of the year.
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Lloyd's insurer Omega Insurance Holdings Ltd announced last week that it had terminated talks with potential suitors interested in acquiring the company.
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Insurance Australia Group's (IAG) share price rocketed last week as the Australian insurer rebuffed a series of merger approaches from rival QBE Insurance with shareholders speculating that the firm is a prime candidate for takeover.
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Analysts and investors will scour XL Capital's first quarter financials tomorrow for further guidance on the Bermudian's exposure to the sub-prime fallout, as well as the potential impact from the spate of large risk losses hitting the sector in the perio
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Credit crunch-hit Royal Bank of Scotland (RBS) could sell insurance subsidiaries Direct Line and Churchill to raise up to £5bn, according to industry commentators.
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Profits for the US property & casualty industry fell by almost $5bn to $66.5bn last year compared to the prior year period, according to rating agency AM Best.
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There is almost a 100 percent chance of a major earthquake in California within the next 30 years according to the latest findings from the US Geological Survey (USGS).
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Bermudian (re)insurers wrote $115.8bn in gross premiums in 2007 up from $100.7bn in 2006 despite falling rates, according to The Bermuda Monetary Authority (BMA).
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Lloyd's became the first admitted reinsurer in Brazil on 17 April despite doubts over whether the long-awaited deregulation would go ahead.
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Specialist corporate finance firm Benfield Advisory has developed a new parametric reinsurance product, aimed at transferring workers' compensation catastrophe (WCC) coverage to reinsurers and the capital markets.
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Former Wells Fargo executive LoriAnn Lowery has been appointed by Lloyd's as its new president of North America.
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UK financial services group Prudential Plc has delivered a 13 percent increase in new business, at £729mn for the first quarter of 2008, despite a "challenging" economic environment.
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Three people have been confirmed dead and 40 are missing after Typhoon Neoguri slammed into southern China at the weekend.
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The US economy woes are set to continue and worsen as it faces a one-in-100-year crash similar to the 1929 stock market meltdown that preceded the Great Depression, according to Prem Watsa, head of Fairfax Financial Holdings.
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US life reinsurer Reinsurance Group of America (RGA) reported a sixty percent drop in net income to $31.5mn, or $0.49 per diluted share for the first quarter of 2008, spurred by "poor claims experience" in the US and UK mortality markets.
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UK motor insurance rates will have to increase by approximately 20 percent for the sector to return to profitability, according to UK financial services firm AA's recent Insurance Index.
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The Financial Services Commission (FSC) of Gibraltar has appointed Michael Oliver as head of insurance.
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At current pricing levels, it would take a $30-50bn ground-up property loss to reverse the slide in property cat reinsurance rates, according to Aon Re Global.
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FGIC Corp is trying to woo investors to back a proposed new AAA-rated bond insurance business as it looks at strategic options in an attempt to secure its future.
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The European Commission has launched a public consultation on whether the (re)insurance industry should remain exempt from the European Union's anti-trust rules.
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Former Catlin senior vice president Francis "Bud" Lockwood has been named as president of Montpelier Re's US unit, Montpelier Underwriting Inc (MUI).
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Bermudian (re)insurer Ironshore Insurance Ltd's fledgling subsidiaries Ironshore Indemnity Inc (III) and Ironshore Specialty Insurance Company (ISIC) have been assigned A- financial strength ratings and issuer credit ratings of a- by AM Best.
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The two former Marsh Inc executives who were found guilty in February of taking part in bid-rigging have been sentenced by a New York judge.
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The Texas Windstorm Insurance Association (TWIA) is set to buy an additional $500mn of reinsurance cover for the 2008 hurricane season as it responds to increased coastal exposure.
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