75993 results returned for search: "" category "Business"
Bermuda-based re/insurer Hiscox Ltd posted strong net earnings for 2010, despite being hit with catastrophe claims of £165.5 million ($268.7 million).
The London-listed company yesterday announced a pre-tax profit of £211.4 million ($343.3 million), ...
DATE: Mar 01, 2011
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CATEGORY:
Reinsurance
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NEW YORK (Bloomberg) American International Group Inc. cut its workforce by more than a third last year as the bailed-out insurer sold profitable units, including one to rival MetLife Inc., which now has more employees.
AIG had about 63,000 workers a...
DATE: Mar 01, 2011
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CATEGORY:
Reinsurance
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Bermuda reinsurer Validus Holdings Ltd has estimated its losses from last week’s deadly New Zealand earthquake at between $25 million and $50 million.
It based this on an industry loss estimate for the earthquake, which left more than 100 people dead...
DATE: Mar 01, 2011
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CATEGORY:
Reinsurance
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Major shareholders in Bermuda-based Billing Services Group plc are aiming to force and extraordinary general meeting to be held in order to remove chairman Patrick Henegham and two directors.
Manx Financial Group plc (MFG), which holds 1.7 million sh...
DATE: Feb 28, 2011
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CATEGORY:
International Business
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Former The Hartford Financial Services Group, Inc chairman and chief executive officer Ramani Ayer has joined XL Group’s board of directors.
Mr Ayer retired from The Hartford in October 2009 after spending more than 12 years in those leading position...
DATE: Feb 28, 2011
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CATEGORY:
Reinsurance
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NEW YORK (AP) Robert Benmosche, chief executive of the bailed-out insurance company AIG, isn’t known to be shy.
On Friday’s conference call to discuss earnings, a Goldman Sachs analyst baited him with a question: “If pre-crisis you were the 800-pound...
DATE: Feb 28, 2011
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CATEGORY:
Reinsurance
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Butterfield Bank saw 268,600 shares change hands last week, most of them traded after the bank announced a $207.6 million loss for 2010 on Tuesday.
Investors apparently welcomed the bank’s claims to have put its troubles behind it and Butterfield’s s...
DATE: Feb 28, 2011
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CATEGORY:
Bermuda Stock Exchange
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Tokio Millennium Re Ltd (TMR) has become the seventh Bermuda reinsurer to be approved for lower collateral requirements by the state of Florida.
The company, a subsidiary of Tokio Marine & Nichido Fire Insurance Co Ltd, will now be able to post 20 pe...
DATE: Feb 28, 2011
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CATEGORY:
Reinsurance
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A Bermuda-based company will be facing off against Lancashire County Cricket Club in British courts this week over the club’s plans to redevelop its famed Old Trafford cricket ground.
Derwent Holdings, which owns a nearby retail park, has launched a ...
DATE: Feb 28, 2011
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CATEGORY:
International Business
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Bermuda-based Gerova Financial Group’s merger with UK investment bank Seymour Pierce has been called off.
New York-based broker dealer Ticonderoga Securities, which was also planning to join the three-way merger, said it too had terminated discussion...
DATE: Feb 28, 2011
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CATEGORY:
Reinsurance
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