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Hartford slump continues on exposure fears
Shares in US insurance giant Hartford Financial Services Group have slumped a further 15 percent today as investors react to fears over the company's exposure to troubled companies such as AIG and Washington Mutual.
01 October 2008
(Re)insurance stocks steady on bail-out failure
Global (re)insurance stocks remained steady in early trading today (30 September) as news of the rejection by US Congress last night of the $700bn rescue package for the country's ailing banking sector sent tremors through global indices.
30 September 2008
Heavy H1 claims drag US p/c insurers to underwriting loss
Heavy claims in the first half of 2008 have pushed the US property casualty insurance industry to an underwriting loss of $5.6bn for the period, and a combined ratio above 100.
30 September 2008
Liberty fights back over S&P downgrade
Liberty Mutual Group has fought back against its downgrade by Standard & Poor's (S&P) following the closure of its $6.2bn acquisition of rival Safeco last week.
29 September 2008
New bill refuels US tax debate
Both sides in the US taxation debate were quick to respond last week to proposed legislation aimed at levelling the playing field between foreign-owned and domestic carriers writing business in the world's biggest insurance market.
29 September 2008
Lloyd's cuts back in softer market
Lloyd's posted an interim profit before tax of £949mn for the six month period ending 30 June 2008, a fall of 47 percent against 2007's record figure of £1.8bn.
29 September 2008
QBE parts company with US chief
QBE Group has formally parted company with Tim Kenny, the head of its US operations, The Insurance Insider revealed last week.
29 September 2008
Swiss Re ratings affirmed; $255mn further write-downs
Swiss Re has revealed lower-than-feared write-downs from its exposures to structured credit default swaps (CDS) as it posted mark-to-market losses of SFr245mn in July-August in its CDS portfolio and estimated further write-downs in September (up to the 19
29 September 2008
AIG asset sale begins
American International Group Inc (AIG) expects to have a "for sale" list of assets drawn up by the end of this week (3 October), and may have executed transactions in that time frame, according to new chairman and CEO Edward Liddy.
29 September 2008
Validus in Transatlantic Re talks
Validus Holdings Ltd is in talks to buy Transatlantic Re from distressed insurance giant American International Group (AIG), The Insurance Insider understands.
29 September 2008
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