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  • Lloyd's (re)insurer Hardy Underwriting has lifted gross written premiums by 26 percent year-on-year to £256mn for the first nine months of 2010.
  • 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.
  • American International Group (AIG) has completed the offering of 636.9mn shares of $2.50 common stock, enabling the US Treasury to receive $20.7bn in proceeds
  • Amlin does not need to redomicile away from the UK because it can pay offshore tax rates while remaining onshore, according to chief executive Charles Phillipps.
  • Bavarian giant Munich Re has raised its 2007 earnings guidance on the back of record 2006 profits of over EUR3.5bn – 28.5 percent up on the prior year.
  • Property, casualty and treaty managing director Jonathon Proctor has resigned from Colemont Insurance Brokers, The Insurance Insider can reveal.
  • Bermudian-headquartered Scottish Re has seen one of its subsidiaries sink further into junk status last week just days after the embattled reinsurer finally published its full-year results.
  • US investment bank Goldman Sachs has been charged by the Securities and Exchange Commission (SEC) with defrauding investors in the sale of subprime financial products that allegedly cost their customers more than $1bn.
  • Allianz's net income smashed through analyst expectations today (12 May), fuelled by higher-than-expected capital gains.
  • Transatlantic Holdings and Aspen Insurance Holdings reported record third quarter profits, with Everest Re also booking a dramatic swing in fortunes...