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Berkshire Hathaway profits hit by underwriting downturn
Berkshire Hathaway revealed first quarter net profits dropped by around 64 percent to $940mn from $2.6bn in the prior-year period.
12 May 2008
IAG downgraded on risk profile
The continuing saga of QBE Insurance's merger approaches to Insurance Australia Group (IAG) is beginning to take on the appearance of an Australian soap opera as twists and plot developments play out through the Australian Stock Exchange.
12 May 2008
Generali would be stretched by RBS bid
Italian financial services firm Generali Group’s interest in purchasing the UK’s second largest non-life insurer, RBS Insurance (RBSI), would be a “very significant financial stretch”, warned a leading insurance analyst.
12 May 2008
US Senate rejects federal wind damage coverage
The US Senate has rejected moves to add wind coverage to the federal programme that provides flood insurance.
12 May 2008
IFEX gets green light to margin trade in US hurricane season
Trading risk platform Insurance Futures Exchange Services (IFEX) is to facilitate margin trading during the North Atlantic wind season - in a move that may encourage greater activity on the derivative exchange.
12 May 2008
Greenshoots of recovery continue in airline market
Signs of recovery in the hard-pressed airline market are continuing with a 16 percent increase in April's hull and liability premium, according to Aon Aviation's latest report into the sector.
12 May 2008
Hiscox premium income falls 10 percent
Bermuda-headquartered Lloyd's insurer Hiscox Ltd has dropped its premium income by 10 percent this year as it sticks to its guns about underwriting discipline in the soft market.
12 May 2008
Analysts upbeat on Munich Re despite Q1 major loss impact
Munich Re's first quarter profits dipped 19 percent as it took a EUR578mn hit in its reinsurance division from the spate of major losses hitting the market in the period.
12 May 2008
Japanese quake cat bond next as ILS pipeline builds momentum
Despite a slower than expected start to insurance linked securities (ILS) issuance in 2008, the pipeline of cat bond deals is again filling up, with a renewal of a Japanese quake bond expected to close shortly.
12 May 2008
EC 'welcomes' industry's co-insurance response
The European Commission (EC) has finally given public backing to the industry's response to concerns surrounding co-insurance, or subscription, market practices.
12 May 2008
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