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QBE shares slump as results miss targets
Shares in Australian (re)insurer QBE Group slumped after the company missed analyst profit estimates for 2007.
03 March 2008
Omega syndicate rides out KRW to post 2005 profit
Omega Insurance Holdings Ltd Lloyd's Syndicate 958 has withstood the impact of hurricanes Katrina Wilma and Rita to post a profit for 2005, maintaining its pedigree of a pure underwriting profit in every year it has traded since its launch in 1980.
03 March 2008
Buffett warns party is over for insurers
Warren Buffett, the chairman and CEO of Berkshire Hathaway Inc, has warned insurers that the party is over and tougher times lie ahead regardless of what the weather does this year.
03 March 2008
SCA future bleak; Berkshire and Assured pick up new business
The dramatic lowering of SCA’s rating by Standard & Poor's (S&P) last week from AAA to A- was part of a series of actions by the ratings agency on the troubled bond insurance sector, which has been beset by sub-prime related losses.
03 March 2008
Hiscox questions Lloyd's capacity strategy
Robert Hiscox, a former deputy chairman of Lloyd's and one of the most strident voices in EC3, has called the reduction of only 2 percent in the Society's capacity for 2008 "disappointing".
03 March 2008
UK earthquake could cost £30mn
Property damage from the earthquake that hit the UK on 27 February is likely to cause insured losses of between £15-30mn, according to initial estimates by Risk Management Solutions (RMS).
03 March 2008
Glacier continues growth; plans further expansion
Swiss reinsurer Glacier Re continued to grow in 2007 with an increase in premiums and the launch of its first securitisation.
03 March 2008
Willis extend Plumeri’s contract; Millwater promoted
(Re)insurance broker Willis Group Holdings has extended the contract of its chairman and CEO, Joe Plumeri, until 2011 as well as making a number of changes to its senior management.
03 March 2008
London acquisition drags HRH's earnings
London market broker Glencairn dragged the 2007 earnings of parent US broker Hilb Rogal & Hobbs' (HRH) down by $0.11 per share, it was revealed last week.
03 March 2008
ARC chairman moots run-off capital model
The Association of Run-off Companies (ARC) is canvassing members over the proposed development of a capital adequacy model to help firms in run-off deal with Solvency II requirements.
03 March 2008
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