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Endurance enters UK construction
Bermudian Endurance Specialty Holdings is building its presence in UK construction insurance with a team headed by former HDI Gerling UK underwriter Simon Challinor.
11 August 2008
Hannover feels credit crunch; misses profit targets
Hannover Re's operating profit was down 14.4 percent in the first half of 2008 to EUR400mn after being hit by a 24.1 percent fall in investment income in the period as the German reinsurance giant missed analyst targets.
11 August 2008
Investment losses drive down HCC income
US insurer HCC Insurance Holdings Inc saw its first half profits drop to $173.4mn, compared to $197.9mn in the prior-year period, as the credit crunch took its toll.
11 August 2008
Max Capital first half profits fall
Earnings at expansive Bermudian (re)insurer Max Capital Group more than halved in the first six months of 2008, down to $82mn from $174.1mn in the prior-year period, despite a rise in investment income.
11 August 2008
Strong underwriting boosts Flagstone profits
A strong underwriting performance propelled "Class of 2005" Bermudian reinsurer Flagstone Reinsurance Holdings Limited to net income of $74.8mn for the first half of the year.
11 August 2008
Dresdner continues drag on Allianz; revises growth target
German insurer Allianz Group's net earnings fell 28 percent to EUR1.5bn in the second quarter of 2008, due mainly to a poor result in its banking arm, Dresdner Bank, which reported a EUR566mn operating loss for the period.
11 August 2008
RSA defies gloom with 23 percent profit hike
RSA Insurance Group plc shares have climbed 13 percent in little over a week after the insurer posted a leap in profits from £237mn to £292mn.
11 August 2008
Platinum issues first cat bond
First-time insurance linked securities sponsor Platinum Underwriters Bermuda Ltd has issued a $200mn multi-peril cat bond affording it cover against US wind and quake, European windstorm and Japanese earthquake...
11 August 2008
Another industrial loss likely with Canadian propane blast
In an active year-to-date for industrial and energy losses, (re)insurers are bracing themselves for another significant claim after a series of explosions at a Canadian propane gas facility yesterday.
11 August 2008
Willis defending $500mn+ PA spiral lawsuits
CNA Insurance Co and American Reliable are suing Willis for $275mn and $251mn respectively over allegations relating to their placement of toxic Personal Accident spiral and workers' compensation business in 1996-1998.
11 August 2008
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