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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
RBSI overhauls UK commercial arm
RBS Insurance (RBSI) is overhauling its sluggish broker-only insurer NIG in a bid to cut costs and drive down its combined ratio, which compares poorly to the firm's other underwriting operations.
01 May 2009
Shedding Admiral stock earns Munich Re EUR107mn
German reinsurance giant Munich Re will realise a gain of approximately EUR107mn in the second quarter after shedding 4.9 percent of its 15.1 percent stake in Cardiff-based Admiral Group.
01 May 2009
JLT Re swoops for Aon Benfield execs
Reinsurance broker JLT Re has taken advantage of talent leaving the recently formed broking giant Aon Benfield by appointing two senior executives to bolster its New York and Chicago operations.
01 May 2009
Banque AIG exec performs resignation u-turn amid default threat
American International Group (AIG) has moved to calm the choppy waters around the unwinding of its doomed financial products business (AIGFP) by persuading a senior executive at the division to reverse his resignation in order to avert potential legal act
01 May 2009
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