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Reserves and investments lift RenRe, Montpelier and Endurance profits
A trio of Bermudian (re)insurers – RenaissanceRe, Montpelier Re and Endurance Specialty Holdings – booked higher Q2 net income bolstered by reserve releases and improving investment conditions.
29 July 2009
Illinois allows AJ Gallagher to again charge contingent commissions
AJ Gallagher has struck a deal with the Illinois regulatory authorities that will enable the US broker to again accept contingent commissions, signalling the strongest challenge yet to the so-called Spitzer legacy.
29 July 2009
XL profits slide on FX losses and lower investment income
XL Capital's second quarter net profits plunged 66 percent year-on-year from $237.9mn to $79.9mn, as the bottom line was dented by foreign exchange losses and a fall in net investment income.
29 July 2009
Iran plane crash liability claim could hit $55mn
The liability claim from the Tupolev Tu-154 passenger aircraft that crashed in north-western Iran on 15 July, killing all 168 on board, is currently estimated at up to $55mn, The Insurance Insider understands.
28 July 2009
RK Harrison to retain Bowood as dedicated binder unit
RK Harrison has said that the Lloyd's broker Bowood Holdings, which it acquired in October 2008, will become the group's specialist delegated authority broker from 1 October this year, operating under the name Bowood Insurance Brokers Ltd (BIB).
28 July 2009
US judge ups Aon’s payout to United to $32mn
A US federal judge has upheld a jury verdict in favour of United National Insurance Company (UNIC) in a reinsurance spat with Aon Ltd and added $8.3mn in prejudgment interest to the amount the jury awarded to take the total payout by the broking giant to
28 July 2009
ACE profits slide, while Partner's surge on accounting methodology
The vagaries of financial accounting standards produced contrasting results for ACE Ltd and PartnerRe.
28 July 2009
Transatlantic Re book value recovers as profits rise
Transatlantic Re saw its book value per share increase 6.9 percent in the second quarter to reach a high of $53.47 at June 30.
28 July 2009
Torus appoints new COO; expands US team
Fast-expanding insurer Torus Holdings has appointed Naveen Anand – CNA Insurance’s former senior vice president of commercial insurance – as global chief operating officer.
28 July 2009
WR Berkley spies end of cycle
Bill Berkley, the CEO of US specialty insurer WR Berkley, is confident the sluggish US P&C markets are close to turning as the firm posted its second quarter results.
28 July 2009
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