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  • Bermudian PXRE continued its drive to become a Cat and Risk Excess only reinsurer as it reported second quarter net income up 51 percent, but revenues and net premiums down 20 and 17 percent respectively, with the withdrawal from the last of its Finite ri
  • Lloyd’s has received a request for information about finite reinsurance from the Securities and Exchange Commission and the office of New York attorney general Eliot Spitzer, it emerged today.
  • Munich Re fights back at S&P downgrade Giant German reinsurer Munich Re has rallied against rating agency Standard & Poor’s (S&P) after being downgraded from AA- to A+ with a stable outlook. In a statement, the world’s largest reinsurer by premium desc
  • Randall & Quilter Group Investment Holdings Ltd (R&Q), the UK-based acquirer of run-off businesses, confirmed on 6 December that Ancon Insurance had become its fifth acquisition of 2006.
  • The first of six Lloyd’s capacity auctions was a sluggish affair It was a slow and entirely expected start to the annual Lloyd’s auctions, where the right to participate on Lloyd’s syndicates is bought and sold. The declining number of names and syndi
  • Global (re)insurance giant Tokio Marine is restructuring its international reinsurance and large commercial property operations from 1 January 2011, as it gears up for growth.
  • Losses reported by the (re)insurance industry for the Chilean earthquake have slipped over the $6bn threshold, thanks to a late-arriving $810mn addition from US (re)insurance behemoths Berkshire Hathaway and AIG.
  • The blaze ripping through a UK oil depot could cost insurers up to $900mn according to industry sources. The fire, at the Buncefield depot, 25 miles north of London, followed a series of blasts, which began early on Sunday (11 December)...
  • Reinsurance giant Munich Re has been downgraded by a number of stockbrokers, including London-based Jefferies International and Execution Noble, over its exposure to the sovereign debt of Portugal, Italy, Ireland, Greece and Spain (PIIGS), especially through covered bonds.
  • As reinsurers drop out of the PA market, what are the consequences for the London market? After years of operating as a soft, reinsurance-reliant sector, the London accident and health market is finally experiencing a rapid hardening of rates and a...