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Trio of cat bonds to kick off Q3
Three diversifying cat bonds are currently in the market and are likely to be welcomed by the specialist investors who have endured an unusually quiet run-up to the hurricane season and are keen for non-US wind exposures.
25 July 2011
No Greek tragedy for European (re)insurance stocks
Regulators praised the stability of European insurers as they released stress test findings this month but investor confidence ebbed and flowed ahead of a key political decision on the Greek debt crisis towards the end of July.
25 July 2011
Munich Re targets US growth through brokers
Munich Re has identified "growth and maintenance of broker relationships" as being "critical to success" in its overall P&C strategy, while also highlighting the increasing importance of the US to its strategy.
25 July 2011
US wholesale broker BB&T
Diversified financial group BB&T has reported strong earnings for the second quarter of 2011, with a 46 percent year-on-year increase in net income.
25 July 2011
MMC tops Aon on overall revenues… for now
Marsh & McLennan Companies (MMC) held its position at the head of the league table of the top 20 global brokers based on 2010 total revenue figures, despite modest erosion of its market share.
25 July 2011
BMS buys out minority shareholder; revenues grow
Specialist insurance broker BMS Group plans to buy out its only external shareholder, fellow Lloyd's broker AHJ Holdings, with the help of a £10mn credit facility.
25 July 2011
Lower contingents hit profit at Brown & Brown
Falling contingents, increased expenses and continued organic retrenchment pushed expansive US retail broker Brown & Brown's second quarter net income down more than 10 percent.
25 July 2011
US tornadoes push Travelers to record $364mn quarterly loss
US insurance giant Travelers reported a $364mn quarterly net loss, as tornado losses contributed to more than $1.67bn in pre-tax cat costs for the firm - equivalent to its exposure to a 1-in-100 year hurricane.
25 July 2011
Chubb reports $419mn profit despite cat toll
Chubb reported an almost 20 percent year-on-year drop in second quarter net income to $419mn but managed to remain in the black - and beat the Wall Street consensus - despite the recent spate of deadly tornadoes.
25 July 2011
Platinum in $178mn H1 loss
Second quarter catastrophe losses and deteriorating estimates from events in Q1 have pushed Platinum Underwriters Holdings to a $20.4mn net loss for the period, taking the reinsurer's deficit for the first half of 2011 to $177.6mn.
25 July 2011
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