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Munich Re beats profit target despite higher combined ratio
Munich Re beat its increased profit projections for 2007 as it booked a consolidated result of EUR3.9bn for the year, up 11.9 percent on 2006.
19 February 2008
London set to end paper premiums
The London market has moved closer to eliminating paper from premium processing as the Market Reform Group (MRG) announced today (19 February).
19 February 2008
Charman signs five-year deal to continue as AXIS chief
Market veteran John Charman has signed a five-year deal that will see him continue to head up Bermuda-based AXIS Capital Holdings Limited, the company he founded.
19 February 2008
Caribbean insurer boosts Flagstone’s premium income
The acquisition of Caribbean property insurer Island Heritage boosted the premium income of "Class of 2005" reinsurer Flagstone Re, which rose 91 percent last year, it revealed in its 2007 results yesterday (18 February).
19 February 2008
ABI says tougher planning control needed in UK
The Association of British Insurers (ABI) has warned that tougher planning controls are needed if flood insurance is to remain widely available for new homes in the UK.
18 February 2008
Sub-prime litigation outpaces savings-and-loan crisis
The number of sub-prime related cases filed in federal courts is dramatically outpacing the savings-and-loan (S&L) litigation of the early 1990s, according to a recent study.
18 February 2008
Derivative loss decimates Assured Guaranty results
Bermudian financial guaranty and credit (re)insurance specialist Assured Guaranty Ltd (AGL) fell to a loss of $260.1mn in the fourth quarter of last year after taking a $297.5mn sub-prime derivative hit.
18 February 2008
UK drives drop in European run-off liabilities
A significant reduction in the UK’s run-off liabilities has driven a EUR2bn decrease across Europe, according to a new survey launched by PricewaterhouseCoopers LLP (PwC) in conjunction with the Association of Run-Off Companies.
18 February 2008
Kiln shareholders approve Tokio Marine acquisition
Shareholders in Lloyd's (re)insurer Kiln Ltd have approved the cash acquisition of the firm by Tokio Marine & Nichido Fire Insurance Co Ltd at a special general meeting last week.
18 February 2008
Analysts cautiously optimistic as MMC grows revenues
Analysts reacted with cautious optimism as organic growth boosted Marsh and McLennan Companies Inc’s (MMC) 2007 revenues in its 2007 results, which were published last week.
18 February 2008
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