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Hannover Re slumps to Q3 loss; targets breakeven in Q4
Hannover Re has become the latest (re)insurer to slip to a third quarter net loss under the weight of heavy catastrophe claims and investment write-downs.
05 November 2008
Carvill restructures with ‘material’ job losses
Independent reinsurance broker RK Carvill is separating its underwriting and broking businesses in a corporate restructure that will result in “material” redundancies, The Insurance Insider can reveal.
04 November 2008
Swiss Re falls to Q3 loss
Swiss Re has become the latest reinsurer to slump to a third quarter deficit, as it booked a SFr304mn net loss for the period, driven by a SFr614mn operating loss in its life and health business.
04 November 2008
Flagstone upbeat despite hefty 3Q loss
Flagstone Reinsurance Holdings Limited has revealed a Q3 2008 net loss of $186.5mn, compared to net income of $66.2mn for the same quarter a year earlier as investment and catastrophe losses weighed heavily.
04 November 2008
Hartford shares rally on capital clarification
US insurer the Hartford Financial Services Group saw its battered share price rally 57.75 percent to $16.28 at market close yesterday (3 November), after it sought to clarify its capital position in a Securities and Exchange Commission (SEC) filing.
04 November 2008
SCOR launches investment unit
French reinsurance giant SCOR has announced the establishment of SCOR Global Investments, a new “dedicated investment management company” which will be responsible for managing the group’s global investment portfolio...
03 November 2008
Judge rules former Gen Re/AIG execs cost investors $550-600mn
Christopher Droney, the federal judge who oversaw the trial of five former General Re and American International Group (AIG) executives, has ruled that their conspiracy led to huge losses for investors.
03 November 2008
Founder Thompson steps down from THB
London market broker THB Group's long-standing chairman and founder Vic Thompson is to retire from the company on 30 April.
03 November 2008
Hardy and Novae weather investment turmoil and hurricanes
Lloyd’s insurers Hardy Ltd and Novae revealed their estimates of the financial impact of US hurricanes Gustav and Ike on 28 October, as the cost of the storms continues to mount.
03 November 2008
Willis praises IT partner Sequel
It's not often that brokers find themselves praising their IT providers but that is exactly what occurred with Willis Group this week.
03 November 2008
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