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Navigators steers into 2010 underwriting loss
Specialty insurer Navigators reported a $4.9mn underwriting loss for 2010, reversing the $19.5mn underwriting profit made in 2009, following a 3 percent drop in net earned premiums to $659.9mn.
21 February 2011
Swiss Re plunges to $725mn Q4 loss and shuns buyback
Swiss Re reported a fourth quarter loss of $725mn for 2010 but remained bullish on its capital position for the coming year.
21 February 2011
Achilles Brit offer unconditional
Achilles, the acquisition vehicle for Apollo and CVC's £880mn ($1.4bn) buy-out of Brit Insurance, has made its offer of up to 1,100p per Brit share unconditional after it lowered its acceptance threshold to 80 percent.
21 February 2011
Industry gets more bullish on 2012 market turn
Four weeks into the fourth-quarter reporting season and - as well as better-than-expected operating profits for the majority of global P&C (re)insurance players - there is evidence of a more bullish line for calling a turn in the market as early as next year.
21 February 2011
Chaucer price drifts as rival bidders remain in the shadows
Chaucer plc's share price has deflated by 10 percent since it emerged that Terra Firma had approached the Lloyd's insurer, amid growing scepticism over Lime Street ever seeing a bidding war.
21 February 2011
Equity Syndicate’s losses could mount to £480mn
Equity Syndicate 218's losses from its misfiring motor book are likely to reach £480mn, figures released by Equity Syndicate Management Limited suggest.
21 February 2011
Omega-Canopius talks stall ahead of results
Omega's takeover talks with Canopius have stalled as shareholders wait on the former's full-year results, due on 8 March, The Insurance Insider understands.
21 February 2011
P&I renewal shelters members as new regulatory threats loom
The protection and indemnity (P&I) clubs have completed their 2011 renewals, with strengthened balance sheets again allowing the mutuals to ease pressure on struggling shipowners.
21 February 2011
New launch INREM promotes mediation to cut industry legal costs
The vast cost to the (re)insurance industry of legal disputes is under challenge from a London-based launch that is promoting mediation as an alternative to the traditional route of lawyers and acrimonious litigation.
21 February 2011
US A&E losses spike 50 percent in 2009
Positive reserve releases have been a strong feature of recent years, but potential volatility around claims from long-tail books of business remains a threat to the US P&C industry amid a 2009 upswing in asbestos and environmental (A&E) incurred losses.
21 February 2011
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