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Tokio Millennium Re profits up 13%
Tokio Millennium Re (TMR), the reinsurance subsidiary of Japanese "big three" insurance group Tokio Marine, reported profits of $140mn in 2013, up by 13.3 percent from $123.6mn the previous year.
12 May 2014
Third Point Re Q1 profits drop 46%
Profit at Third Point Re, the reinsurer backed by Dan Loeb's Third Point hedge fund, almost halved in the first quarter, weighed down by weaker investment returns and rising crop claims, it said on 8 May.
12 May 2014
Renamed ‘Vibe’ syndicate approved for mid-year Lloyd’s start
Syndicate Re's renamed Vibe Syndicate Management has received in-principle approval from Lloyd's to write live business from 1 July, The Insurance Insider can reveal.
12 May 2014
Clarification: Atrium
A quote from a source cited in last week's Marcus Scriven profile of Christine Dandridge wrongly asserted that she had wished to be active underwriter of the combined entity following the merger of its Syndicate 570 into Syndicate 609. Normal 0
12 May 2014
ProSight backs down on managing agency under PRA pressure
ProSight at Lloyd's failed to establish its own managing agency at 1 April despite receiving approval from Lloyd's last year, after pressure from the Prudential Regulatory Authority (PRA) caused it to suspend the project, The Insurance Insider can reveal.
12 May 2014
Nowhere to hide
Looking out into the senior audience to open the last week's fifth InsiderScope New York conference, it was easy to succumb to the temptation to permit ourselves a little showmanship.
12 May 2014
Ugly rating environment spreads well beyond cat
The excess industry capital that first took its toll on property catastrophe reinsurance has spread to most reinsurance classes and big ticket global insurance business, with rate reductions fast gathering momentum, according to multiple market sources.
12 May 2014
Enstar's shares advance on profit surge
Legacy-to-live carrier Enstar Group's shares were 4.1 percent higher at $135.52 at the time of writing today (12 May) after it reported at the weekend that its profits had nearly trebled in the first three months of 2014.
12 May 2014
Brit a ‘buy’ at Numis
Analysts at Numis Securities today (12 May) initiated coverage of Brit Insurance with a "buy" recommendation, arguing that the Lloyd's carrier's shares are trading at an unwarranted 36 percent discount to the wider sector
12 May 2014
Tower downgraded to C++ after reserve charge
Beleaguered insurer Tower Group has been downgraded by two rungs to C++ (marginal) after it disclosed a fresh $62.5mn reserve charge in its delayed fourth quarter results.
09 May 2014
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