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AIG writes off $1.32bn in profits
After multiple delays, under-fire insurer AIG has announced today that it has finally filed its 2004 Form 10-K with the Securities and Exchange Commission (SEC). The insurance giant, which was forced to restate its accounts in the wake of the SEC...
31 May 2005
Axa H1 profit drops 28% after UK life sale; confirms executive reshuffle
French insurance giant Axa saw net income for the first half of the year drop 28 percent to EUR944mn after sustaining a EUR1.48bn loss related to the sale of part of its UK life operations earlier in the year.
04 August 2010
Willis’ springtime woes
But Plumeri points the way to a brave new world... April became the cruelest month for Willis, with job losses, a licence suspension, a more than halving of profits and the setting up of a $20mn legal reserve all occurring recently.
03 May 2005
FSA admits Northern Rock failings
The Financial Services Authority (FSA) has admitted to failings in relation to the meltdown at Northern Rock and has pledged to improve its supervision levels.
31 March 2008
Pamplona runs with SPV structure in Chaucer auction
Pamplona Capital Management, the private equity firm that is in a three-horse race to acquire Chaucer Holdings, is considering an offshore special purpose vehicle (SPV) structure to own...
06 April 2009
Munich’s Am Re boost highlights US liability deterioration
An increase in casualty and asbestos reserves at a US unit has forced a 74 percent drop in second quarter profits at world’s largest reinsurer Munich Re.
08 August 2005
The Hartford posts record profits on low cat year
Benign catastrophe conditions contributed to US insurer The Hartford Financial Services Group reporting record fourth quarter net income of $783mn, or $2.42 a share, and full year 2006 net income of $2.7bn – a 21 percent increase on 2005.
29 January 2007
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
Everest Re profits up 50%
In contrast to a number of its Bermudian compatriots, Everest Re has booked fourth-quarter net and operating profits that are significantly higher than in the comparable prior-year periods
10 February 2011
ACE outdoes XL on expenses as Bermudians report strong profits
Bermudian giants ACE Ltd and XL Capital reported analyst-beating first quarter profits last week, but the companies’ performances met with a mixed response from analysts.
30 April 2007
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