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Lippe vaunts inflation hedge and warns against ‘dangerous’ capital returns
Swiss Re will give investors a clear signal of any share buyback, dividend or acquisition plans for excess capital by the end of the year, executives said in a conference call today after the company released its Q3 results.
04 November 2010
FDIC files another lawsuit against failed bank
The Federal Deposit Insurance Corporation (FDIC) has filed a lawsuit in Illinois against Heritage Community Bank, fanning expectations that it will pursue executives of more than 300 small banks that have failed since 2008.
04 November 2010
HCC solid as reserve releases dwindle
International specialty underwriter HCC's year-on-year third quarter net earnings fell by $1.2mn to $93.1mn on the back of a modest 0.7 percent decrease in net earned premiums to $516mn.
04 November 2010
PartnerRe defies NZ losses to beat forecasts
PartnerRe reported operating earnings of $282mn for the third quarter despite $64mn losses from the New Zealand earthquake. The figure was in line with the same period last year.
04 November 2010
Solvency II catastrophe standards out of date, says Aon Benfield
Aon Benfield has branded the standard formulas proposed for natural catastrophe modelling under Solvency II regulations as a "disappointing backward step" for the industry.
04 November 2010
Hartford’s P&C segment profits up by 16%
US-based composite insurer Hartford Financial Services Group saw the return from its property and casualty segment grow by 16 percent to $300mn.
04 November 2010
Hannover Re receives rating agency boost
German reinsurer Hannover Re and its operating entities have received a rating agency fillip, with AM Best upgrading its outlook from stable to positive.
04 November 2010
RSA adds 10% to nine-month top line
UK and international property and casualty insurer RSA added 10 percent to its top line in the first nine months of the year, taking net written premiums (NWP) to £5.5bn, according to its interim management statement.
04 November 2010
Zurich non-life profits down 21%
Global insurance giant Zurich Financial Services has reported a 21 percent decline in non-life business operating profits over the first nine months of the year to $1.96bn.
04 November 2010
Swiss Re repays Berkshire Hathaway as Q3 income doubles
Reinsurance giant Swiss Re announced today (4 November) that it has repaid its SFr3bn debt to Warren Buffett's Berkshire Hathaway, as it reported third-quarter net income of $618mn that was almost double the profit earned in the same period last year.
04 November 2010
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