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Reserve releases drive Chubb earnings
Despite weaker market conditions, US insurer Chubb Corp saw its 2007 earnings grow on the back of strong reserve releases.
04 February 2008
AIG settles Spitzer related lawsuits
American International Group (AIG) settled lawsuits by nine states and the District of Columbia for $12.5mn last week that sprang from the former New York attorney general Eliot Spitzer's investigations...
04 February 2008
Cooney returns with Aon Capital Markets role
Aon Corp has hired the former Max Re chief executive Bob Cooney as managing director of its Capital Markets division, the unit which provides structured finance and capital markets products to the (re)insurance industry.
04 February 2008
Lloyd's misses ECF targets despite dramatic December increase
Lloyd's has remained upbeat despite the market missing the 100 percent 2007 target for take-up on usage of electronic claims files (ECF) as it ended the year at 88 percent.
04 February 2008
Target price downgrade for Axa despite strong earnings
Despite strong results, Axa SA has received a target price downgrade from Collins Stewart analyst Tim Young after concerns about continuing dollar weakness, asset market turmoil and the possible acquisition of Friends Provident.
04 February 2008
Zurich in Scandinavian expansion
Zurich Financial Services is expanding in Norway and Denmark through two new branches of Zurich Insurance Ireland Ltd (ZIIL).
04 February 2008
Willis MMC merger talk hushed by Duperreault appointment
The arrival of Brian Duperreault at the helm of Marsh & McLennan Cos (MMC) has been welcomed by the investor community - and reduced the likelihood of an imminent takeover bid by Willis Group Holdings, according to analysts.
04 February 2008
MBIA falls to $1.9bn loss for 2007
Giant bond insurer MBIA Inc has seen its results decimated by the recent sub-prime debacle, posting a $1.9bn loss last year, down from an $819.3mn profit in 2006.
04 February 2008
$250mn sat loss placed by Willis
The $250mn loss of an African telecommunications satellite at the end of last year was placed in the space insurance market by Willis, with cover understood to be led by Munich Re.
04 February 2008
Rating agencies hint at gloomy 2008; is capital about to become scarce once again?
Rating agencies - those all-powerful arbiters of insurers' destinies - are getting restless and it is not just the monoliners who are in their sights.
04 February 2008
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