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Swiss Re profits up 74% despite Berkshire repayment drain
Swiss Re lifted its annual net income by 74 percent to $863mn last year despite repaying a 2009 Berkshire Hathaway loan and a 30 percent year-on-year drop in P&C operating income to $2.5bn
17 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.
17 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
16 February 2011
Aon pays $36,000 to settle Iran sanctions violations
Aon has paid $36,000 to a US Treasury agency to settle allegations that it broke US sanctions against Iran in 2005.
16 February 2011
Broker BPL opens in Hong Kong to tackle Asian political risk
Credit and political risk insurance broker Berry Palmer & Lyle (BPL Global) has opened a new Hong Kong branch office.
16 February 2011
Way’s Houston International buys mining & energy underwriter
Stephen Way's Houston International Insurance Group (HIIG) has agreed to buy an Alabama-based mining and energy underwriter, Casualty & Surety, Inc.
16 February 2011
AmTrust profit up 38% on acquisitions
US and European specialty insurance group AmTrust reported a 38 percent rise in annual net income to $142.5mn for 2010, with acquisitions helping boost net earned premiums by 30 percent to $745.7mn
16 February 2011
£880mn Brit Insurance buy-out to complete on 2 March
UK regulator the Financial Services Authority (FSA) and Lloyd's have formally approved the proposed Brit Insurance takeover by the private equity duo Apollo and CVC.
16 February 2011
Chaucer price drifts as rival bidders remain in the shadows
Chaucer plc's share price has deflated by 13 percent since it emerged that Terra Firma had approached the Lloyd's insurer, amid growing scepticism over Lime Street ever seeing a bidding war
16 February 2011
PartnerRe Q1 Aus losses up to $110mn
Bermudian PartnerRe has become the latest reinsurer to put a cost on Australian Q1 natural catastrophes as it said the total net impact of the loss events in the period so far will be between $80mn and $110mn.
16 February 2011
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