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RBS Insurance makes £403mn profit
Royal Bank of Scotland's up-for-sale insurance division said operating profits leapt from £258mn to £403mn at the half-year stage although revenues were down slightly on business distributed by brokers and partners.
08 August 2008
Catlin sees profits fall on investments
Catlin Group Ltd's pre-tax profits fell by $40mn in the first half of 2008 in what one analyst has called a "mixed bag" of results for the Bermudian-headquartered (re)insurer.
08 August 2008
AIG shares on course for record fall
American International Group (AIG) shares are on course for their biggest single daily fall on record as investors reacted to the insurance giant’s announcement of a $5.36bn loss on heavy credit and investment writedowns.
07 August 2008
RSA "pleasing" profits could make it M&A target, says analyst
A 23 percent rise in first-half post-tax profits for RSA Insurance Group plc could make it a potential merger & acquisition (M&A) target, says Keefe, Bruyette & Woods (KBW) analyst Grieg Paterson.
07 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.
07 August 2008
Marsh confirms a further 900 job cuts
Marsh & McLennan Companies Inc (MMC) has confirmed that at least 2,000 jobs will be cut in 2008 after announcing a further 900 positions will be axed.
07 August 2008
AIG shares set to fall
Shares in American International Group (AIG) are set to suffer in trading today after the US giant booked a higher than expected $5.36bn net loss driven by more than $12bn in credit and investment writedowns.
07 August 2008
Benfield profits flat as Corporate Risk losses continue
Despite 30 percent growth in its marine, energy and power book, Benfield Corporate Risk continued to be a loss-maker for the reinsurance intermediary in the first half of 2008.
07 August 2008
Allianz results dragged down by Dresdner; 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.
07 August 2008
Marsh revenues and profits grow in Q2
The recent leadership changes at Marsh & McLennan Companies (MMC) and its insurance broking unit Marsh appear to be having an impact on performance, with increased revenues and operating profits in the second quarter.
06 August 2008
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