March 2008/2

German financial services giant Allianz AG's expects to take a pre-tax hit of EUR200mn following European Windstorm Emma, it revealed today (13 March).

Benfield Group’s share price slumped in early trading today as the enervating effects of the weak dollar took its toll on the firm’s 2007 results.

After more than doubling net written premium and more than trebling after-tax profits in 2007, Bermuda-based Omega Insurance Holdings Ltd expects further profitable growth in 2008.

Disgraced “Sheriff of Wall Street” Eliot Spitzer has resigned as New York Governor over his links to a prostitution ring.

Despite a heavier burden from natural catastrophes, Hannover Re saw operating profits rise 14 percent to EUR940mn, boosted by strong performance in its life and health division.

The US Federal Reserve has taken further strong action in a bid to ease fears of a freezing up of credit markets that has sent US financial stocks on a downward spiral in recent days, and led to fears of a squeeze on insurance linked securities (ILS) dema

Shares in Lloyd's insurer Heritage Underwriting Agency plc closed up 13 percent to 131.5p today (11 March), fuelled by strong results and takeover speculation.

Embattled New York Governor Eliot Spitzer has been told he has just 48 hours to resign or face impeachment.

Berkshire Hathaway Inc has exited its 16.3 percent stake in White Mountains Insurance Group Ltd in a deal that sees the Bermudian insurer pay $751mn in cash and transfer two of its run-off units to the investment giant.

New York state governor and former attorney general Eliot Spitzer has been caught arranging to meet a high-priced prostitute at a Washington hotel last month, according to reports from the New York Times.

A significant reduction in the UK's run-off market has driven a EUR2bn decrease across Europe, according to a recent survey.

Buffett goes long on derivatives; Fairfax profits from credit bets; DIFC extends international attractions; AM Best stable on reinsurance; IRS captives tax u-turn...