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Flagstone runs 94% combined ratio in Q2
Bermudian cat specialist Flagstone Re ran up a combined ratio of 94 percent in the second quarter of the year despite the absence of significant cat events and has remained silent on the M&A process that was run earlier this year.
07 August 2012
Novae bond exchange offer could add £9mn to bottom line
Lloyd's (re)insurer Novae has announced a bond exchange offer to holders of its subordinated £100mn callable fixed to floating rate notes, which could add around £9mn to its bottom line.
12 March 2012
EU Parliament approves Solvency II
The European Parliament (22 April) approved the Solvency II framework directive without the contentious group support provision – a development which European insurance and reinsurance federation the CEA described as a "missed opportunity".
22 April 2009
Fitch downgrades Mapfre on ‘intrinsic link’ to Spanish sovereign
Fitch Ratings has downgraded the insurer financial strength (IFS) ratings of Spanish (re)insurance group Mapfre and its core operating subsidiaries by one notch from A+ to A.
31 January 2012
Stanford CIO criminally indicted
Laura Pendergest-Holt, the chief investment officer for Stanford Financial Group, has been indicted by a Houston federal grand jury on charges of obstruction of justice and conspiracy to obstruct justice.
18 May 2009
Reserve strengthening sends Global Indemnity to Q4 and FY loss
Irish-domiciled specialty (re)insurer Global Indemnity reported a $23.6mn net loss for the fourth quarter as a reserve strengthening exercise weighed on results.
14 February 2012
Aon Re appoints Bermuda President
Aon Re Global has promoted Robert Johnston to become president of its Bermuda operations, Aon Re Bermuda.
30 October 2006
Swiss Re earnings disappoint
Giant reinsurer Swiss Re reported a 41 percent drop in its 2005 net income to SFr1.451bn from SFr2.475bn in the prior-year, a result that reflected a tough year for reinsurers. Swiss Re absorbed SFr3bn in large natural catastrophe claims following...
15 March 2006
Hannover Re cuts back US business; Clarendon restructured
German reinsurer Hannover Re has revealed plans to realign its under performing US subsidiary Clarendon away from program business to specialty insurance, potentially cutting gross premiums by $1bn and increasing group net retention to 80 percent...
21 July 2005
Alexander Forbes forms African reinsurance venture with PDS
South African insurance broker Alexander Forbes has launched a joint venture with PDS Holdings which plans to become Africa’s largest reinsurance broker, the firm announced last week.
18 August 2003
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