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Lloyd’s insurers avoid latest Madoff claim in Swiss court
Five Lloyd's syndicates have dodged a SwF42mn ($47mn) insurance claim in a Swiss court case relating to money paid by three investment firms into Bernard Madoff's Ponzi scheme.
12 February 2014
UK flood loss estimates could rise: analysts
The heavy floods that have inundated the UK since December look set to cost insurers £500mn, auditor Deloitte said yesterday (11 February), matching an earlier estimate from rival PwC.
12 February 2014
Howden buys brace of Colombian brokers in Iberoamerican push
Expansive London-headquartered broker Howden Broking Group has announced the acquisition of two Colombian-based insurance brokers, Wacolda and Proseguros.
12 February 2014
Ebix settles class action suit for $6.5mn
Insurance IT services provider Ebix has agreed to pay out $6.5mn to settle a shareholder class action suit triggered by allegations of accounting irregularities in 2011.
12 February 2014
Admiral extends reinsurance deals
UK motor insurer Admiral has extended the deals under which it passes on 75 percent of its business to a group of reinsurers until the end of 2016, it said this morning (12 February).
12 February 2014
HCC reports record Q4 and full-year profits
HCC Insurance Holdings reported record fourth quarter and full-year net profits as well as operating earnings that comfortably beat Wall Street forecasts.
12 February 2014
Arch profits on low cats and higher reserve release in reinsurance
Arch Capital Group has reported fourth quarter operating profits of $152.7mn, or $1.12 a share, compared to a Sandy-hit prior-period loss of $24.7mn, or $0.18 a share.
12 February 2014
Tower ups Q3 reserve charge, writes off goodwill and fixed assets
Stricken US insurer Tower Group's delayed third quarter 2013 results revealed that adverse loss reserve charges for the period came in 37 percent above the top end of its previously announced range.
12 February 2014
Willis reports Q4 organic growth of 3.7%
Willis Group reported 3.7 percent organic growth in commissions and fees in the fourth quarter, placing it between its two larger rivals Aon and Marsh & McLennan (MMC).
12 February 2014
Argo points to improved underwriting as Q4 returns to profit
Argo Group reported top and bottom line growth in the fourth quarter fuelled by improved underwriting performance across its four operating divisions.
12 February 2014
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