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October 2009/3

  • Bermudian domiciled (re)insurer Axis Capital says it expects its third-quarter operating income to be impacted by an increase of approximately $136mn in the fair value liability of an indemnity derivative contract that is exposed to longevity risk.
  • Munich Re's recent decision to reinstitute its share buyback programme to the tune of EUR1bn in "unneeded" capital could act as a catalyst for further returns...
  • Overseas and emerging markets are forecast to continue to be important areas of growth for European (re)insurers in the coming years...
  • Rating agency AM Best painted a lacklustre picture of the European non-life sector in 2010...
  • The total liabilities of the UK non-life run-off market increased by approximately 30 percent to an estimated £37.4bn at the end of 2008...
  • Hong Kong-based investment company Primus Financial Holdings headed the consortium that won the battle to acquire American International Group (AIG)'s Taiwanese life insurance unit, Nan Shan, for $2.15bn.
  • Despite a moderate uptick in the number of securities lawsuits filed in the third quarter, the number of new suits related to the credit crisis fell sharply...
  • The decision by a Scottish Court last week to prevent the proposed Scottish Lion solvent scheme of arrangement because of objections by some policyholders will be appealed, scheme adviser and partner at PricewaterhouseCoopers (PwC) Dan Schwarzmann has tol
  • Brit Insurance Holdings has embarked on a shake-up of its professional indemnity division which has led to the departure of its two most senior underwriters.
  • As the first of the Q3 financials begin to trickle through this week led by Platinum Underwriters on Wednesday, the expectation is for bumper profits from property casualty (re)insurers...
  • Texas-based Southwest Insurance Partners Inc (SWIP) has completed a $20mn capital raise increasing its overall capitalisation to more than $115mn, The Insurance Insider can reveal.
  • While Beaufort and Beazley remain on course to launch special purpose syndicates (SPS) for 1.1, fellow Lloyd's insurers Hardy Underwriting and Ark Underwriting have shelved plans to establish new sidecar style vehicles for the 2010 year.
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