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Munich Re buys US marine MGA for $52.5mn
Munich Re has continued its drive for distribution with the acquisition of US marine insurance underwriting agency and broker Roanoke Trade Services Inc for $52.5mn
30 April 2008
Market softening dents RenRe Q1 profits
Market softening contributed to a $50mn first quarter profit fall at RenaissanceRe Holdings Ltd, compared to the prior-year period.
30 April 2008
Lancashire beats projections despite property risk losses
Bermudian insurer Lancashire Holdings Ltd has trumped analysts’ expectations with first quarter pre-tax profits of $86.4mn, only marginally down on the $88.3mn it booked in the prior-year period.
29 April 2008
Highway reports bleak Q1 for UK motor sector
Shares in Highway Insurance Holdings plc have dipped after the UK motor specialist offered a bleak update on the sector.
29 April 2008
Insurers to pay $3.35bn in Q1 US cats
The Insurance Services Office (ISO) has estimated that US property & casualty insurers will pay out an estimated $3.35bn in first quarter catastrophe claims in 2008.
29 April 2008
Citizens votes to spend $100mn on private reinsurance
Florida’s state insurer Citizens Property Insurance Corporation is to buy reinsurance in the private market for the first time in its history.
29 April 2008
Allianz hit by EUR900mn writedown
Allianz Group's first quarter results are expected to be hit by a EUR0.9bn writedown at subsidiary Dresdner bank "due to the ongoing financial market crisis", the company has revealed.
29 April 2008
IAG rebuffs renewed QBE approach
Insurance Australia Group (IAG) said it will not accept a merger with QBE Insurance, despite downgrading its full-year profit outlook.
28 April 2008
Airline rates finally begin to take off
The hard-pressed airline market showed signs of recovery at the 1 April renewals with rates rising by as much as 10 percent on some major airline accounts, according to underwriting sources.
28 April 2008
Willis to grade (re)insurers
(Re)insurance broker Willis Group Holdings has announced the launch of a new tool which will allow clients to rate and compare carriers on standards such as claims settling and policy administration.
28 April 2008
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