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Demand increase and modest rate rises at 1/1
Reinsurance rate increases at 1/1 renewals have been relatively modest, caused in no small part by a relatively small depreciation in industry capital, which has helped to contain price rises...
05 January 2009
Latest AIG CDO buy-up brings total to $62.1bn
American International Group (AIG) and the Federal Reserve Bank of New York (FRBNY) have bought an additional $16bn of multi-sector collateralised debt obligations...
05 January 2009
XL Capital 'diminished'
XL Capital's competitive position has "diminished" because of the enervating effect of the earnings and capital charges that have overshadowed the Bermudian (re)insurer in the past few years, according to ratings agency Standard & Poor's (S&P).
05 January 2009
Japanese new star set to rise?
Three Japanese non-life insurers Aioi Insurance, Mitsui Sumitomo, and Nissay Dowa are in talks to create Japan’s largest non-life insurer, according to a report from Bloomberg citing two sources close to the situation.
05 January 2009
US P&C income plummets by 85 percent during first nine months of 2008
US property & casualty (P&C) insurers saw net income for the first three quarters of 2008 fall by 85 percent to $7.3bn, with an underwriting loss of $10.9bn, according to a report by rating agency AM Best.
31 December 2008
Energy rate hardening universal as capacity crunch looms
The upstream energy market is experiencing rate hardening across all geographic areas and coverage lines, according to the latest analysis from wholesale broker Lloyd & Partners, which suggests that proportional reinsurance will also benefit in 2009...
31 December 2008
Munich Re tallies 2008 nat cat at $200bn
A study from global reinsurer Munich Re has placed 2008 as the third worst year on record for economic losses from natural catastrophes (nat cat).
31 December 2008
Mitsui, Aioi and Nissay Dowa in merger talks - reports
Three Japanese non-life insurers Aioi Insurance, Mitsui Sumitomo, and Nissay Dowa are in talks to create Japan’s largest non-life insurer, according to a report from Bloomberg citing two sources close to the situation.
29 December 2008
Latest AIG CDO buy-up brings total to $62.1bn
American International Group (AIG) and the Federal Reserve Bank of New York (FRBNY) have bought an additional $16bn of multi-sector collateralised debt obligations (multi-sector CDOs) on which AIG’s financial products subsidiary wrote credit default swaps
29 December 2008
Hartford affirmed, but negative outlook remains
The Hartford Financial Services Group, has had the A+ financial strength ratings of its subsidiaries removed from review with negative implications and affirmed by AM Best, albeit with a negative outlook.
24 December 2008
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