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  • Australian insurance giant QBE is facing a shareholder class action investigation over allegations that it misled the market ahead of a profit warning issued on 9 December 2013, the company confirmed last week (19 August).
  • The Insurance Insider's Data Room finds that while all the global reinsurers agree on the competitive pricing conditions, they are adopting different approaches to navigating the soft market
  • Operating returns for Bermudian carriers rose during the second quarter of 2014 after another relatively benign period for catastrophe losses.
  • The listed Lloyd's carriers again delivered a sub-90 percent combined ratio in the first half of 2014 and broadly resisted exhibiting signs of the underlying deterioration in underwriting performance that some had feared.
  • The listed Lloyd's (re)insurers again delivered top-line growth in the first half as additional writing more than offset accelerating rate cuts.
  • Despite a maelstrom of negative commentary on the rating environment, the listed Lloyd’s carriers bested their 2013 performances in the first half of this year as improved investment returns helped to offset widening combined ratios.
  • AmTrust shares vacillated last week after an investigative report suggested that a 16 percent block of its stock held in non-profit foundations could be forcibly sold to comply with US tax rules.
  • Ailing US insurer Tower Group fell to an equity deficit last week after the company was forced to once again strengthen its reserves in Q2.
  • Willis has estimated that a fire and explosion at an Argentinian tank farm this year has cost the downstream energy industry $180mn in physical damage (PD) alone.
  • Global broker Willis has questioned whether conditions in the rapidly softening downstream energy market are really as bad as some underwriters wished to suggest, noting that the market looked to have made money ever since Hurricane Ike in 2008.