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PCI owner convicted of $485mn life settlement fraud
Costa Rica's ability to ferment dubious (re)insurers that can cause hangovers in the international markets was demonstrated last month by the successful prosecution of Minor Vargas Calvo for a $485mn fraud conspiracy in the life settlement bonding market.
01 May 2012
Axis doubles size of Japanese cat book at 1.4
After Axis revealed that it had slashed its 1 January cat book by 40 percent, the Bermudian carrier has disclosed that it doubled the size of its Japanese cat exposure at 1 April
01 May 2012
Investment income drives $65.1mn Q2 profit at Greenlight Re
Investment income at David Einhorn's reinsurance platform Greenlight Capital Re rebounded in the first quarter from a negative prior-year period return, pushing the company to a solid net income of $65.1mn.
01 May 2012
Chaucer lifts Hanover top and bottom line
A solid first quarter from its Lloyd's acquisition Chaucer helped Hanover Insurance Group to an earnings beat for the third quarter in a row.
01 May 2012
PartnerRe beats on benign cats, reserve releases and investment gains
A benign first quarter for cats combined with investment gains and reserve releases helped PartnerRe turn a prior-period net loss of $807.0mn into a net profit of $360.1mn.
01 May 2012
Catalina appoints Morgan Stanley for capital raise
Bermuda-based run-off player Catalina has appointed investment bank Morgan Stanley to sound out potential new investors to back the legacy buyer, The Insurance Insider understands.
30 April 2012
PaCRe portfolio will ‘mirror Validus Re cat book’
All of the $500mn start-up PaCRe's business will be written in parallel with Validus Re's high-layer property cat book, Validus CEO Ed Noonan told The Insurance Insider
30 April 2012
Generali boosts Q1 premium by 6.1%
Generali achieved a preliminary 6.1 percent increase in total premiums amounting to EUR19.8bn for Q1 after "a particularly good performance in the non-life business", the firm said at its annual general meeting
30 April 2012
Dewey expels chairman after criminal investigation is launched
Debt-laden law firm Dewey & Leboeuf has expelled its former chairman after the Manhattan district attorney began a criminal investigation into his conduct last week
30 April 2012
Munich Re keeps dividend stable despite Q1 beat
Munich Re, the world's largest reinsurer, says it expects a net first quarter profit of EUR750mn - significantly higher than the EUR681mn analyst consensus.
27 April 2012
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