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Zurich shares drop as floods dent profit
Shares in Zurich Insurance Group fell 3.7 percent today (15 August) after the diversified Swiss carrier reported a bigger-than-expected 27 percent drop in its second quarter profit, which was blamed on flood losses and dwindling investment returns
15 August 2013
Wesfarmers NZ quake loss holds steady as insurance rebounds in 2013
Pre-tax insurance profits at diversified Australasian conglomerate Wesfarmers rebounded strongly from A$36mn to A$243mn in the year to 30 June 2013, driven by higher premiums and a reduction in claims as reserves from the Christchurch earthquakes stabilised.
15 August 2013
Athene agrees Lawsky deal to smooth Aviva takeover
Athene Holding, the insurer backed by buyout firm Apollo, has struck a deal with New York regulators aimed at speeding up its delayed $1.8bn takeover of Aviva's fixed annuity business in the US
15 August 2013
Third Point Re prices IPO at bottom of range
Third Point Re, the Bermudian reinsurer founded by hedge fund guru Dan Loeb, has priced its stock market flotation in New York at $12.50 per share – at the bottom end of the $12.50-$14.50 range it set last week
15 August 2013
Zurich profit dented by tornadoes, floods
Diversified Swiss carrier Zurich Insurance Group reported a bigger-than-expected 27 percent drop in its second quarter profit this morning (15 August), caused by tornado and flood losses as well a weaker investment performance.
15 August 2013
Catalina ups ASI bid and accuses board of ‘shocking’ behaviour
Catalina has raised its bid for American Safety Insurance (ASI) for a second time as the takeover battle for the Bermuda-based insurer becomes increasingly acrimonious.
15 August 2013
AIG goes back to the future with Hogan hire
American International Group (AIG) has turned to a familiar face to drive its global consumer insurance business by rehiring Kevin Hogan from Zurich Insurance Group.
15 August 2013
Endurance continues US professional lines build-out with Pattison hire
Endurance has continued its revamp under new CEO John Charman with the hire of Stuart Pattison from CNA Insurance to head up its new US Law Firm practice.
15 August 2013
Allied World buys strategic stake in London MGA
Allied World is set to take a 21.2 percent share in London-based managing general agent Gravity in a further expansion of its European business, according to a statement released today (13 August).
14 August 2013
Iron-Starr Excess Agency CEO steps down
Iron-Starr Excess Agency CEO Stuart Anderson is stepping down from his position after deciding to relocate from Bermuda for personal reasons, US specialty insurer Ironshore said on Tuesday (13 August).
14 August 2013
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