November 2005/3

Willis has announced a second offering for the sale of 6.1mn shares currently held by Kohlberg Kravis Roberts (KKR) and Fisher Capital. Willis is planning to purchase 1.5mn of the shares in a private transaction with the remaining shares being...

Talanx is reported to have trumped the aggressive US buy-out firm Cerberus Capital Management for the prize of fellow German insurer Gerling Group. Talanx – which is reducing its majority stake in reinsurer Hannover Re – has not revealed terms of...

Markel suffered a poor third quarter with the insurer feeling the impact of hurricanes from the last two seasons. The American firm announced a net loss of $111mn or $11.31 per diluted share, compared to a profit of $13.8mn, or $1.40 a diluted...

Despite announcing third quarter net profits up 69.7 percent to EUR794mn on the prior-year period, German insurance giant Allianz is reportedly still preparing to slash thousands of jobs, as the company continues to restructure its operations.

Operating profit at Hannover Re has plummeted by 84.4 percent to EUR63.8mn for the year up to 30 September the company announced on 10 November. Profits at the reinsurer were hit by a third quarter catastrophe loss of EUR781.4mn, with losses for...

Industry veteran Don Kramer has again chosen Shakespearian inspiration for the name of his $750mn+ Bermudian start-up reinsurer. Kramer - who formed the Bermudian catastrophe reinsurer Tempest Re in 1993 - is to call his new reinsurer, Ariel Re...