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  • Rating agency Standard & Poor’s (S&P) has upgraded the financial strength ratings of Arch Capital’s operating subsidiaries from A- to A with a stable outlook.
  • Less than a month after its all-paper acquisition of liability start-up PRI Group Ltd went unconditional, Brit Insurance Holdings plc revealed that it has purchased Markel International Insurance Company’s UK motor insurance portfolio valued at some £16.2
  • Liability start-up Illium began trading last week, issuing quotes for risks which attach from 1 January 2004.
  • Last-ditch efforts apparently failed last week to resolve a long running dispute between the French authorities and US federal and state prosecutors over the Executive Life debacle.
  • American International Group's (AIG) life insurer, AIG Life, was granted a license to conduct its group insurance operations from the Qatar Financial Centre (QFC).
  • Geoff Bromley has left the global reinsurance broker, Guy Carpenter & Co, where he was chairman of the company’s non-Americas operations in Europe and Asia-Pacific, The Insurance Insider can reveal.
  • World Trade Center leaseholder Larry Silverstein is back in Court on Tuesday (22 July) as he seeks to force the building’s insurers to pay for two events, double the value of his Willis placed $3.5bn policy.
  • Like its slightly larger German rival Munich Re, Swiss Re has been recently downgraded by S&P. But at least the reinsurer has reported improved half-year results, returning earnings of SFr691mn up from SFr118mn for the first six months of 2002.
  • US insurer St Paul disappointed investors last Wednesday (30 July) with earnings below a revised analysts’ consensus, and considerably down on previous projections.
  • US insurer C.N.A became the latest carrier to reveal sizable additions to loss developments last week when announcing a $308mn after-tax charge to second quarter earnings.