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NJ next in line on collateral requirements
Non-US (re)insurers may be required to post less collateral in New Jersey after new legislation paved the way for the state's regulators to cut the amount required to be posted against risks by alien firms in reinsurance transactions.
25 March 2011
Berkshire ups US underwriting profit as sector strays into red
An AM Best study has indicated the US P&C sector fell to an overall underwriting loss in 2010, with the industry's combined ratio up 2.2 percentage points from 2009 to 102.1 percent.
25 March 2011
Market reacts well to transitional Tawa’s 2010 results
Run-off specialist Tawa's 2010 annual results were well received by the market today (25 March), with its share price rising 5 percent in early trading on the London Stock Exchange to 72p
25 March 2011
AIR revises Japan loss estimate to $20bn-$30bn
AIR Worldwide has narrowed its loss estimate for the Japanese earthquake from its initial range of $15bn-$35bn to $20bn-$30bn
25 March 2011
Munich Re to ‘wait and see’ on share repurchases
Munich Re will suspend its share buyback scheme following its AGM in April after racking up estimated first quarter losses of over EUR2.5bn
24 March 2011
Aon: CBI is ‘big unknown’ of Japan quake
While the picture emerging from the Japanese earthquake is still far from clear, Aon has said the real wildcard for global insurance industry losses is contingent business interruption (CBI) cover
24 March 2011
Achilles passes 95% Brit squeeze-out mark
Private equity acquisition vehicle Achilles is to commence "squeeze-out" proceedings against the remainder of Brit's investors after it secured approval for its takeover offer from more than 95 percent of the shareholding
24 March 2011
Brit’s Barton steps down as planned following share payment
Brit has confirmed that John Barton, non-executive chairman of Brit Insurance, has resigned with immediate effect
23 March 2011
Insurers set to benefit from UK budget changes
UK corporation tax in the UK will be cut by 2 percent this year in a budget that accountancy firm PricewaterhouseCoopers (PwC) has welcomed as good for insurers
23 March 2011
Zenkyoren loss forecast at $5.8bn
Gross losses from Japanese cooperative Zenkyoren are expected to hit $5.8bn from the 11 March earthquake and tsunami, according to preliminary estimates from a carrier that participates on the programme
23 March 2011
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