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  • Specialty insurer Markel Corporation acquired privately owned US workers' compensation insurer Aspen for $135mn in cash, it was announced last week.
  • Flagstone Re booked a net loss of $85.2mn for the quarter and $326.1mn for the year as the burden of catastrophe losses decimated the reinsurer's bottom line and contributed to a 30 percent drop in shareholders' equity in 2011.
  • Specialty insurer WR Berkley saw profits slip by a modest 4 percent to $94mn in the third quarter, as it resisted the downward pressure that softening rates and torpid investment returns have been placing on bottom lines.
  • Apollo-CVC consortium Achilles has pledged to keep the Brit Insurance workforce intact and made a range of other reassurances as shareholders weigh up its £888mn bid.
  • To avoid the threat of downgrades, Bermuda’s (re)insurers are being forced to tap the capital markets Bermuda’s (re)insurers are rushing to the capital markets to repair the damage Hurricanes Katrina and Rita have wreaked to their balance sheets and...
  • But with ratings likely to be dragged down, reserving doubts and indifferent results, questions remain over supermerger rationale. Two months after Travelers and St Paul unveiled plans for a "merger of equals" (see the November 2003 edition of The Insu
  • Cats are up and it's official; 1999 was the second-worse year for insurance losses. In its 30th year of publication by Swiss Re, the latest Sigma report on major losses in 1999 paints a woeful picture of devastating natural catastrophes and expensive...
  • Lloyd's (re)insurer Hardy Underwriting Bermuda has hired two underwriters from QBE to spearhead its entry into the kidnap and ransom (K&R) market and facilitate its expansion in crop insurance.
  • Reinsurance buyers are demanding price reductions on their treaties as they meet at the annual Monte Carlo Rendez-Vous event to begin the process of negotiating the key 1 January renewals.
  • Australian insurer QBE is to launch a new unit on 27 February, combining its Casualty International and Professional & Financial lines teams.