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THB finalises PWS deal
After stop-start talks, specialist UK broker THB Group plc has finally completed its £8.5mn acquisition of PWS Holdings plc's Lloyd's business and overseas interests.
28 January 2008
(Re)insurance shares recover after turbulent week
(Re)insurance shares recovered from a turbulent last week in the markets clawing back ground by close of trading on Friday (25 January) after falls caused by fears of a US recession.
28 January 2008
Analyst disappointed with Allianz preliminary figures despite improvement
German financial services giant Allianz AG's pre-announced EUR10.8bn of 2007 operating profit, prompting analysts at Keefe, Bruyette & Woods (KBW), to revise their forecast for the firm from Underperform to Market Perform.
28 January 2008
RenRe in $13.5mn settlement approval
A New York federal judge has approved a $13.5mn settlement to the securities class action launched by disaffected RenaissanceRe shareholders against the firm.
28 January 2008
Gen Re judge denies mistrial motion
The judge in the trial of five executives charged with transacting an allegedly sham finite reinsurance contract between General Re and American International Group (AIG) rejected the defence's motion for a mistrial last week.
28 January 2008
SocGen fraud not covered by rogue trader policy: sources
The biggest fraud in investment banking history, at French bank Société Générale, is unlikely to translate into a large insured loss because it did not buy unauthorised trading cover, according to senior market sources.
28 January 2008
Berkshire quota share could impact Swiss Re earnings
Berkshire Hathaway's Swiss Re stake is a "vote of confidence" in its competitor but the potential dilutive effect of the "attached" quota share deal on the reinsurance giant's earnings per share (EPS), left analysts cautious.
28 January 2008
Bear Stearns trebles sub-prime liability loss estimate to $9bn
Predicted sub-prime losses for insured management and professional lines have shot up to $9bn from an earlier $3bn as notifications and class action lawsuits continue to mount, according to Bear Stearns analyst David Small.
28 January 2008
Lloyd's 2008 capacity almost static at £15.95bn
Lloyd's has confirmed underwriting capacity at 1 January 2008 of £15.95bn, only fractionally down on the £16.1bn the market began 2007 with.
28 January 2008
Marsh appoints new managing director in FINPRO practice
Global broker Marsh has appointed Carrick Lambert as managing director of the Europe, Middle East and Asia (EMEA) financial institutions industry practice.
28 January 2008
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