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Tawa could earn 30 percent ROE following IPO
Newly listed run-off firm Tawa plc could earn shareholders a 30 percent return on equity (ROE), according to research into the IPO by stockbrokers KBC Peel Hunt.
09 August 2007
Berkshire profits surge, but premiums feel pinch
Berkshire Hathaway's (re)insurance operations contributed heavily to second quarter profits up almost 33 percent, but the investment conglomerate also highlighted increased competition in the business.
09 August 2007
Bermudian giants see profits rise despite cats
Bermudian giants ACE Ltd and XL Capital announced catastrophe charges of $88mn and $30mn respectively for the UK, US and Australian floods in their Q2 results.
09 August 2007
Bermudian specialists slump below future book estimates
Worst hit by the dual impact of second quarter cat losses and the stock market slide was IPC Holdings, as it followed a July profits warning with confirmation of second...
09 August 2007
N Korea 'fraud' dispute continues despite ruling
London market reinsurers led by Allianz will continue their High Court battle with the North Korean national insurer over a controversial EUR44.3mn claim despite a setback in a pre-trial hearing last month.
09 August 2007
Kiln underwriter joins Peleus Re
Andrew Carrier, the former active underwriter of Kiln’s Lloyd’s Syndicate 557 and the reinsurance division of its Syndicate 510, will join Bermudian firm Peleus Re later this year.
08 August 2007
July floods cost R&SA a further £65mn
On reporting a £120mn combined flood loss for June and July, UK (re)insurer Royal & Sun Alliance (R&SA) revised its combined ratio expectation upwards to 96 percent for the full year.
08 August 2007
MMC reports sluggish broking revenues
Marsh & McLennan Companies Inc (MMC) reported slow second quarter revenue growth in its broking division as new business wins were offset by the softening commercial (re)insurance market.
07 August 2007
TRIA heads for 15-year extension
The process of extending the federal backstop to terrorism-related losses took an important step forward when the US House Financial Services Committee voted for an additional 15 years instead of 10, last week.
06 August 2007
Lloyd's director joins ACORD board
Sue Langley, director, Market Operations and North America at Lloyd's has been appointed to the ACORD board.
06 August 2007
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