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Ace profits climb 37% amid acquisition drive
Global specialty insurer Ace booked a 37 percent year-on-year increase in third quarter net income to $675mn, amid a reduction in cat activity and investment write-downs.
28 October 2010
P&C revenues rise at Axa despite underwriting cutbacks
French insurer Axa has reported a 0.7 percent lift in property and casualty (P&C) insurance revenues to EUR21.4mn for the first nine months of 2010, with growth in personal lines offsetting a decline in commercial business.
28 October 2010
Willis delivers 4% organic growth despite soft market
Willis Group achieved 4 percent organic growth in the third quarter as increases in new business and client retention countered adverse soft market conditions.
28 October 2010
RenRe's income drops 21% as NZ earthquake claims hit
Bermudian (re)insurer RenaissanceRe's third quarter net income dropped 21 percent year-on-year to $204.8mn, with the fall attributed primarily to a $73.6mn hit from the New Zealand earthquake.
28 October 2010
Colemont London head leaves following AmWINS merger
Surinder Beerh has resigned as head of Colemont's London market and international operations six months after its parent company merged with US wholesaler AmWINS.
27 October 2010
Regulators approve QBE takeover of Secura
QBE has received the green light from regulators for its EUR267mn takeover of Belgium-based specialist reinsurer Secura.
27 October 2010
AJ Gallagher's organic growth declines
AJ Gallagher's organic growth dipped over the first nine months of 2010, with the broker reporting a 1.9 percent decline in organic commissions and fees, supplemental commissions and contingent commissions.
27 October 2010
AM Best puts Brit under review over post-takeover uncertainties
AM Best has placed Brit Insurance's credit ratings under review with negative implications after the long-awaited announcement yesterday (October 26) of the £888mn cash takeover offer from private equity firms Apollo Management and CVC Capital Partners.
27 October 2010
RenRe founder looking to launch $500mn Flex Re
Bermudian stalwarts John Lummis and Jim Stanard have formed Flex Capital Advisors (FCA), a management company that will underwrite reinsurance on behalf of companies and funds and is set to sponsor a new $500mn start-up Flex Re on the island.
27 October 2010
Profits flat at WR Berkley as it beats expectations
Specialty insurer WR Berkley saw profits slip by a modest 4 percent to $94mn in the third quarter as it resisted the downward pressure that softening rates and torpid investment returns have been placing on bottom lines.
26 October 2010
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