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Munich Re profits leaps to EUR2.1bn; S&P upgrade more likely
German reinsurer Munich Re announced half-year profits of EUR2.1bn today (3 August), a leap of 143 percent from last year, driven by both strong underwriting and investment returns.
03 August 2006
Endurance launches $235mn Cat bond
The continuing popularity of reinsurance securitisations was reflected this week with news that Bermudian (re)insurer Endurance Specialty Insurance has acquired $235mn of multi-year, collateralised US natural catastrophe reinsurance cover from...
02 August 2006
Heritage latest Lloyd's insurer to list on AIM
Heritage Underwriting Agency plc has become the latest specialist Lloyd’s insurer to list on London Stock Exchange’s Alternative Investment Market (AIM) after trading in its shares began today.
01 August 2006
Embattled Scottish Re struck by ratings actions
Bermudian life reinsurer Scottish Re was hit by a slew of downgrades following yesterday’s shock profits warning, collapse in its share price and the sudden departure of chief executive Scott E Willkomm.
01 August 2006
JLT to overhaul pension scheme; margins fall
Jardine Lloyd Thompson Group plc (JLT) plans to overhaul its staff pension scheme in a bid to reduce the £146mn deficit which hangs over the company.
01 August 2006
MMC continues to face Spitzer spectre
In the week that MMC Inc's share price rose 5 percent on vague buy-out rumours, came a reminder that the spectre of Spitzer continues to haunt the company.
31 July 2006
"Long reach" of US law highlights D+O requirements
The "long reach" of US law in extraditing the "NatWest Three" bankers from the UK has highlighted the wordings requirements needed from directors' and officers' (D&O) liability insurance, according to Marsh Ltd.
31 July 2006
Chubb records "outstanding" quarter
US insurer Chubb Corp reported an "outstanding" second quarter of 2006 with net income rising to $598mn, compared to $495mn for the prior-year period.
31 July 2006
St Paul's profit dips
US insurer St Paul Travelers on 27 July reported a dip in net income which fell to $970mn, or $1.40 per basic share, for the second quarter compared to $1.069bn, or $1.59 per basic share in the prior-year period.
31 July 2006
Bush encourages Florida reinsurance pool
Florida Governor Jeb Bush is pushing for a resurrection of the state-run insurance pool in order to provide hurricane cover in the state which is desperately in short supply following the 2004-2005 storms.
31 July 2006
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