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Axiom finally sold for up to £7.85mn
Charles Taylor Consulting plc will pay up to £7.85mn to acquire the struggling London based insurance and run-off services company, Axiom Consulting, it confirmed today (8 May).
08 May 2009
Swiss Re shares surge despite 75% profits fall
Swiss Re profits slumped by 75 percent to SFr150mn for the first quarter, as the reinsurance giant took SFr2.1bn in net unrealised investment losses.
07 May 2009
Munich Re profits down 46% on writedowns
Reinsurance giant Munich Re booked a fall in net profit from EUR777mn to EUR420mn for the first quarter of the year, as its investment portfolio was hit again.
06 May 2009
Marsh Q1 margins improve on efficiency drives; US picture gloomy
Marsh & McLennan Companies (MMC) saw group revenues fall 13 percent but operating margins significantly improve in its Risk and Insurance Services (RIS) division, as its recent cost-cutting drive appears to have borne fruit.
06 May 2009
R&Q posts 8% growth in net assets; refusal to discount pays dividends
Randall & Quilter (R&Q) weathered a brutal year for acquirers of run-off (re)insurance businesses to post a profit before tax of £8.8mn for 2008 and an 8 percent growth in net assets.
06 May 2009
American Financial raises 2009 earnings guidance
American Financial Group raised its 2009 earnings projection after posting "record" first quarter net earnings of $103.8mn.
05 May 2009
Cooper Gay revenues climb to £83mn
Ambitious London market broker Cooper Gay has reported a 22 percent rise in 2008 revenues to £83mn, up from £68.1mn in 2007, fuelled by the arrival of new broking teams.
05 May 2009
Flagstone down, Validus up on Q1 operating profit
Expansive Bermudian (re)insurers Flagstone Re and Validus Holdings booked increases in net profits for the first quarter, but reported conflicting fortunes on their underlying business.
05 May 2009
Bullish Hannover targets 20 percent P&C growth in 2009
Global reinsurer Hannover Re produced solid results for Q1 2009 and declared an end to the worst of the financial crisis, as net earned premiums surged ahead 24.6 percent to EUR2.1bn.
05 May 2009
News in Brief
Munich Re launches separate health division; FSA approves new UK retail broker
01 May 2009
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