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July 2008/4
  • (Re)insurance stocks fall sharply again
    (Re)insurance stocks on both sides of the Atlantic have plunged in trading as fears continue to linger over damage to the financial services sector from the fallout of the sub-prime and credit related crisis.
    29 July 2008
  • Normal tropical cyclone season, predicts Guy Carpenter
    Despite a widely predicated active hurricane season in the Atlantic, reinsurance broker Guy Carpenter is not expecting a particularly turbulent year for cyclone activity in the Pacific.
    28 July 2008
  • Amlin follows Lloyd's insurers into US
    Amlin plc has become the latest Lloyd's insurer to enter the US market after announcing the establishment of a representative office in Illinois taking advantage of Lloyd's admitted licence to operate in the state.
    28 July 2008
  • Mapfre profits up more than 50 percent
    Spanish (re)insurer Mapfre has reported a 57.7 percent rise in first-half net profit year-on-year to EUR529.4mn.
    28 July 2008
  • Mixed results for Montpelier and Platinum
    Bermudian reinsurers Montpelier Re Holdings Ltd and Platinum Underwriters Holdings Ltd revealed mixed results for the second quarter as favourable reserve development helped soften the impact of weaker pricing.
    28 July 2008
  • Cat losses hit US insurers' profits
    A second consecutive quarter of heavy catastrophe losses took its toll on early reporting US insurers as profits slipped at Allstate Corp, Travelers, Liberty Mutual, WR Berkley and Chubb and Transatlantic Holdings.
    28 July 2008
  • HCC and former CEO settle SEC investigation
    US insurer HCC Holdings, its former CEO Stephen Way, and its former General Counsel Christopher Martin have finally reached a settlement with the US regulatory authorities relating to a dispute alleging violations over stock-options backdating.
    28 July 2008
  • Tokio Marine continues global expansion with Philadelphia move
    The expansive Japanese insurer Tokio Marine & Nichido Fire Insurance Co's acquisition of non-life insurer Philadelphia Consolidated Holding Corp (PCHC) will help the company to strengthen its overseas property and casualty (P&C) businesses...
    28 July 2008
  • AEGON in £250mn life securitisation
    Dutch insurance giant AEGON has closed a £250mn value in-force (VIF) life insurance securitisation with Barclays Capital that unlocks cash tied up in its primary UK subsidiary, Scottish Equitable.
    28 July 2008
  • Lloyd's Bermuda invasion continues with Max move
    Max Capital Group became the latest Bermudian (re)insurer to acquire a Lloyd's platform last week after buying Imagine Group (UK) Ltd.
    28 July 2008
  • Aon's Middle East expansion continues
    Aon Middle East has been authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) to operate in Qatar.
    28 July 2008
  • Scottish Re plunges further into junk territory
    Rating agency AM Best has downgraded the financial strength rating of Scottish Re Group Ltd, plunging the embattled reinsurer further into junk territory.
    28 July 2008
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