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Mapfre profits up more than 50 percent
Spanish (re)insurer Mapfre has reported a 57.7 percent rise in first-half net profit year-on-year to EUR529.4mn.
28 July 2008
Mixed results for Montpelier and Platinum
Bermudian reinsurers Montpelier Re Holdings Ltd and Platinum Underwriters Holdings Ltd revealed mixed results for the second quarter as favourable reserve development helped soften the impact of weaker pricing.
28 July 2008
Cat losses hit US insurers' profits
A second consecutive quarter of heavy catastrophe losses took its toll on early reporting US insurers as profits slipped at Allstate Corp, Travelers, Liberty Mutual, WR Berkley and Chubb and Transatlantic Holdings.
28 July 2008
HCC and former CEO settle SEC investigation
US insurer HCC Holdings, its former CEO Stephen Way, and its former General Counsel Christopher Martin have finally reached a settlement with the US regulatory authorities relating to a dispute alleging violations over stock-options backdating.
28 July 2008
Tokio Marine continues global expansion with Philadelphia move
The expansive Japanese insurer Tokio Marine & Nichido Fire Insurance Co's acquisition of non-life insurer Philadelphia Consolidated Holding Corp (PCHC) will help the company to strengthen its overseas property and casualty (P&C) businesses...
28 July 2008
AEGON in £250mn life securitisation
Dutch insurance giant AEGON has closed a £250mn value in-force (VIF) life insurance securitisation with Barclays Capital that unlocks cash tied up in its primary UK subsidiary, Scottish Equitable.
28 July 2008
Lloyd's Bermuda invasion continues with Max move
Max Capital Group became the latest Bermudian (re)insurer to acquire a Lloyd's platform last week after buying Imagine Group (UK) Ltd.
28 July 2008
Aon's Middle East expansion continues
Aon Middle East has been authorised by the Qatar Financial Centre Regulatory Authority (QFCRA) to operate in Qatar.
28 July 2008
Scottish Re plunges further into junk territory
Rating agency AM Best has downgraded the financial strength rating of Scottish Re Group Ltd, plunging the embattled reinsurer further into junk territory.
28 July 2008
ILWs are a 'mini hard market'
US national carriers and Florida-only insurers created a surge in demand for Industry Loss Warranties (ILWs) last month, according to Jim Bryce, president and CEO of Bermudian cat specialist IPCRe.
28 July 2008
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