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Novae upbeat as forecast improve
Lloyd’s insurer Novae issued an upbeat trading statement with improvements to its syndicate forecasts, a decrease in run-off expenditure and a better-than-expected assessment of the rating environment.
30 July 2007
More subpoenas in ongoing reinsurance investigation
Connecticut’s attorney general, Richard Blumenthal, has issued 20 subpoenas as part of the continuing investigation into anti-competitive practices in the reinsurance industry.
30 July 2007
Validus debuts despite market nerves
In a volatile week for the global equity markets, Bermudian (re)insurer Validus Holdings made its debut on the New York Stock Exchange with shares priced at $22, below the $24-26 range it set at the beginning of the month.
30 July 2007
Reinsurers Everest and Partner grow earnings
Bermudian reinsurers Everest Re Group and PartnerRe Ltd emerged relatively unscathed from high-profile second quarter Australian and UK cat events to report net earnings increases of 28 percent and 35 percent, respectively, for the period.
30 July 2007
‘Outstanding quarter’ for US insurance duo
Insurers Chubb Corp and WR Berkley began the second period US results season by reporting rising profits in an “outstanding quarter”.
30 July 2007
London market reinsurers suffer N Korean setback
London market reinsurers led by Allianz suffered a blow following a High Court decision in their controversial EUR44.3mn dispute with the North Korean state insurer.
30 July 2007
Beazley shares climb on record interim profits
Shares in Lloyd’s (re)insurer Beazley Group plc rose by around 6 percent this morning (30 July) as it reported a doubling of profits in the first half of 2007 on the back of income growth, low claims and rising investment income.
30 July 2007
Beazley shares climb on record interim profits
Shares in Lloyd’s (re)insurer Beazley Group plc rose by almost 6 percent this morning (30 July) as it reported a doubling of profits in the first half of 2007 on the back of income growth, low claims and rising investment income.
30 July 2007
Australian insurer announces passage to India
Fast-growing Australian (re)insurer QBE Insurance Group Ltd has entered into a Joint Venture Agreement with the Rajan Raheja Group (RRG) to establish a general insurance company in India.
30 July 2007
IGI closes London platform
Nottingham headquartered insurer IGI Group Ltd has closed its London office 18 months after it first opened as an underwriting branch.
30 July 2007
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