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  • Although the power outage that affected much of New York, the Eastern United States and Canada will inevitably result in losses to the insurance industry, they are unlikely to be catastrophic.
  • In its first full year after being carved from US insurance giant St Paul, Platinum Underwriters unveiled net earnings of $144.8mn after a strong fourth quarter contributed $49.8mn.
  • Insurer St Paul Companies Inc reported Q3 earnings per share of 95 cents up on 52 cents for the same period in 2002.
  • Canadian holding company Fairfax Financial Holdings has announced the closure of its issuance of $300mn of subordinate voting shares (2,406,741 shares) to a number of institutional investors, including Markel Corporation ($100mn) and Southeastern Asset Ma
  • Jardine Lloyd Thompson plc announced last Tuesday that its various subsidiaries have received official authorisation from the Financial Services Authority (FSA) ahead of the watchdog’s rapidly approaching 14 January 2005 takeover of regulation for the UK
  • With the Senate Judiciary Committee in recess over the 4 July break, hopes for successful passage of Senator Orrin Hatch’s Fairness in Asbestos Resolution Act were dealt a blow last Thursday as insurers threatened to withdraw from the initiative to set up
  • General insurers are less pessimistic than they were in the first three months of 2003, according to today’s latest quarterly financial services survey by the CBI and PricewaterhouseCoopers (PWC).
  • Weeks after marine insurer Dex left Lloyd’s following disagreements with the Society’s underwriting watchdog, the Lloyd’s franchise board, chief executive Mark Carter has parted company with the organisation.
  • Berkshire Hathaway posted a 58 percent increase in third-quarter earnings including investment gains last Friday (7 November).
  • CNA Financial Corporation became the latest insurance Group to exit reinsurance last week when revealing that it has sold the renewal rights, together with much of its under-performing reinsurance book, to Folksamerica Reinsurance Company, a unit of Bermu