May 2009/3

Paris Re has given a cautious welcome to price hardening in some of its core short-tail lines of business, but has again struck a notably less excitable tone than many in its global P&C (re)insurance peer group...

Insurance giant Allianz saw its net income for the first quarter of 2009 drop by EUR1.12bn to EUR29mn compared to Q1 2008, as write-downs almost doubled to EUR708mn and its property and casualty (P&C) business produced sluggish figures.

Bermuda was dealt a reprieve last week as US President Barack Obama left out of his $210bn tax revenue package proposals that would curb the ability of non-US insurers to cut tax bills by ceding US premiums to affiliated offshore reinsurers.

Laura Pendergest-Holt, the chief investment officer for Stanford Financial Group, has been indicted by a Houston federal grand jury on charges of obstruction of justice and conspiracy to obstruct justice.

Lloyd's (re)insurers Brit and Amlin impressed with strong figures in interim management statements last week, supporting strong top line growth with bullish comments on pricing.

Lancashire Holdings saw its first quarter revenues fall sharply as it said it was holding back capacity to take advantage of "improving opportunities".

After a recent surge, shares in Swiss Re took a volatile path last week as reports that the reinsurance giant was looking to undertake an equity issue at SFr32 compounded a stockbroker downgrade.

Dermot O'Donohoe is set to join Torus on 1 September after resigning as chief underwriting officer of XL Insurance’s global specialty operations and CEO of its London market operations, The Insurance Insider can reveal.

After a delayed entry to the power station insurance market, Sciemus had an active Q1 which saw it begin incepting risks through its managing general agency (MGA) on Inter Hannover paper.

Following private equity firm Pamplona Capital Management's announcement last week that it would like to acquire a 29.9 percent stake in Lloyd’s insurer Chaucer Holdings, all eyes are on Brit Insurance...

Everest Re Group Ltd has become the latest Bermudian to establish a full European underwriting platform with the launch of a EUR200mn Irish subsidiary.

Validus Holdings has raised the stakes in its battle with Max Capital to acquire fellow Bermudian IPC Holdings by introducing a modest cash component of $3 a share to its offer.