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  • Hispanic (re)insurer Mapfre has posted a modest EUR80.8mn loss from the Chilean earthquake, despite its position as the fourth-largest general insurer in the country.
  • Prominent players in the reinsurance market have revealed they are expecting a $1bn-$1.3bn insured loss range from the Deepwater Horizon oil rig explosion.
  • Fairfax Financial Holdings booked net earnings of $290mn in Q1, despite $182mn cat losses driving its overall combined ratio to 112 percent, as the firm's investment performance came to the rescue.
  • Acquisitive UK independent broker Giles has completed its acquisition of London market broker FSJ from Cooper Gay for an undisclosed fee just two years after Heath Lambert disposed of it.
  • The shareholders of Max Capital and Harbor Point have both voted overwhelmingly to approve a merger between the two companies to create a $3.16bn (re)insurer that will operate as Alterra Capital.
  • US (re)insurer Transatlantic Re has updated its first quarter pre-tax catastrophe loss to $130mn, some 40 percent above its earlier upper assessment of cat losses over the period.
  • UK-headquartered broker Jardine Lloyd Thompson (JLT) has issued a gloomy assessment of US market prospects, describing conditions as the most competitive for over a decade.
  • Ace's first quarter profits are up by a third as it avoided the worst of the catastrophe losses, and enjoyed increased investment returns and reserve releases.
  • Willis has shrugged off the soft market to post a 10 percent increase in Q1 operating income to $301mn, as it succeeded in growing organic revenues across its business.
  • Munich Re is confident it will deliver "a clear profit" for the first three months of the year when it reports on 7 May, despite first quarter catastrophe losses approaching $1bn.