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Berkshire defends legacy unit
Berkshire Hathaway has issued an in-depth statement aiming to dispel accusations its insurance subsidiaries have made inappropriate delays and denials of asbestos claims.
01 November 2013
AIG acts on capital management pledge with $192mn share buyback
American International Group (AIG) returned to buying back shares in the third quarter in a further sign of the US insurance giant's rehabilitation.
01 November 2013
$829mn investment losses mask higher (re)insurance profits at Fairfax
Fairfax Financial fell to a third quarter net loss of $571.7mn as solid performance in its (re)insurance business was unable to offset losses on its investment portfolio.
01 November 2013
AIG P&C profits up on lower cats and reserve charges
An improved showing from American International Group's (AIG) P&C division helped the US insurance giant generate third quarter operating profits that were just ahead of Wall Street expectations.
01 November 2013
Greenlight lifts Q3 profits to $56.5mn as premiums grow
Greenlight Capital Re reported a 23 percent year-on-year increase in net income to $56.5mn for the third quarter as the company expanded its premium base significantly
31 October 2013
XL’s shares fall after Q3 disappoints
Shares in Dublin-headquartered (re)insurer XL Group fell 3 percent in early trading in New York as investors reacted to third quarter results that showed a worsening underwriting performance
31 October 2013
Margrett confirms launch of PE-backed broker consolidator
Former Willis executive David Margrett has said that he has set up a broker consolidation vehicle with Towergate founder Peter Cullum and private equity house Penta Capital, confirming an article published by The Insurance Insider two months ago
31 October 2013
Willis loses FI team to AJ Gallagher
Willis's London-based financial and executive risks division (FINEX) is facing the loss of a team of financial institutions executives to rival broker AJ Gallagher Ltd, The Insurance Insider understands
31 October 2013
UK P&I Club to raise rates by 10%
Marine liability insurer UK P&I Club is to hike its prices by 10 percent when shipowners renew their policies next year to keep pace with a rising claims burden.
31 October 2013
Allstate beats in benign cat quarter
Allstate shares are expected to react positively tomorrow to a modest third quarter earnings beat as the US insurance giant's bottom line benefited from lower cat losses than in the prior-year period.
31 October 2013
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