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ZFS results fuelled by $609mn reserve releases
Zurich Financial Services announced net profits of $2.7bn and a combined ratio of 96.2 percent for the first half of the year, but only after making higher than expected reserve releases of $609mn.
18 August 2008
Hiscox pre-tax profits rise to £109mn
Lloyd's insurer Hiscox Ltd has posted a rise in pre-tax profits with reserve releases, a solid investment performance and strong underwriting returns defying the gloom of the soft market and credit crunch.
18 August 2008
Flagstone moves operating platforms to Switzerland
Bermudian headquartered Flagstone Reinsurance Holdings Ltd is to centralise its operating platform in Switzerland in a bid to maximise capital efficiency and take advantage of forthcoming passport rights.
18 August 2008
RSA linked again in takeover talk
RSA Insurance Group plc's strong results last week have once again fuelled speculation that it could be the subject of a takeover bid.
18 August 2008
RBS' capital dilemma: Allstate or nothing?
When Royal Bank of Scotland (RBS) put its insurance division up for sale in April, few could have predicted that four months on there would be only one genuine suitor with a circa £5bn offer on the table.
18 August 2008
Willis to launch Faber Dumas broking arm
Willis's recently acquired London market broking subsidiary Glencairn, part of the $2.1bn Hilb Rogal & Hobbs takeover, is set to be the core of a new, predominantly wholesale broker Faber Dumas, The Insurance Insider understands.
18 August 2008
Navigators gains Brazilian approval
US insurer Navigators Group has become the latest company to gain regulatory approval to operate in Brazil.
18 August 2008
Aon launches new Takaful team
Aon Corporation has announced the launch of a new Takaful unit, which will form part of its reinsurance arm Aon Re Global.
18 August 2008
OIL reduces 2008 premiums
Bermudian energy mutual Oil Insurance Ltd has reduced the 2008 premiums due from its members at last month's board meeting.
18 August 2008
Moody's withdraws Hannover ratings
Rating agency Moody's Investors Services Ltd affirmed its rating on German giant Hannover Re and its subsidiary E+S Rückversicherung but simultaneously withdrew its ratings on the companies.
18 August 2008
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