January 2009/4
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Lloyd's insurer Chaucer Holdings plc confirmed last week that it is looking to raise additional capital after speculation had contributed to a near 40 percent slide in its share price this month.
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Swiss Re led the slide in European insurance stocks on Friday (23 January) as its share price fell more than 20 percent amid concerns that it is set for a further round of heavy write-downs and may need to raise capital when it reports its fourth quarter
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Investment bank Merrill Lynch has agreed to pay out $475mn and $75mn to settle two class action lawsuits filed against it in relation to its sub-prime related losses.
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European insurers' pure solvency ratios are "extremely stretched" and 2009 will be an acutely difficult year for some of Europe's largest market participants, particularly in the life sector...
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Max Capital has revealed a negative return of approximately 20 percent on its alternative investment portfolio for 2008, prompting unrealised asset write-downs of around $233mn and a full-year loss and negative net operating return on average shareholders
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Bermuda-based (re)insurer Arch Capital Group has received approval in principle from the Lloyd's Franchise Board and UK regulator the Financial Services Authority (FSA) to establish a new managing agent and syndicate at Lloyd’s.
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Bermuda-headquartered Lloyd's (re)insurer Catlin is predicted to swing to a full-year loss for 2008, and may need a capital infusion, according to Numis Securities.
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Brit Insurance Company appointed JP Morgan Cazenove to become its co-adviser and was rewarded with a downgrade two days later by the firm’s parent company, JP Morgan.
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The drag of Transatlantic Holdings' relationship with majority shareholder American International Group (AIG) was evident in the downgrade of its core operating companies' financial strength ratings from AA- to A+ by Standard & Poor's last week.
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Hiscox Ltd, the UK quoted (re)insurance group, has joined a growing number of (re)insurers reporting hardening US catastrophe rates in the key January renewals season.
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Bermudian-based PartnerRe recorded a 12 percent cancellation rate during its key 1 January renewals; a figure which it said was the lowest seen over the last five years and reflects "a reversal of the trend of increasing client retentions."
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Bermudian (re)insurer Validus Holdings Ltd joined the crowd of underwriters increasing their loss estimates from Hurricane Ike as the harsh impact of the September 2008 storm continues to mount.
Most Recent
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Citizens CFO amends Ian loss estimate to $1.9bn to $3.7bn
29 September 2022 -
Modeling firm figures point to wide range of possible Ian outcomes
29 September 2022 -
Bernina Re appoints Haddrell as CUO, head of US and retro
29 September 2022 -
Allianz X acquires embedded InsurTech specialist Simplesurance
29 September 2022 -
Helios books £1.1mn loss for H1, more than doubles GWP
29 September 2022
