76379 results returned for search: "" category "Business"
Continuing market turmoil would result in a "sea of red ink" all over insurers' year-end results, according to Lancashire Holdings chief executive officer Richard Brindle.
Payouts resulting from hurricanes Ike and Gustav and investment losses emanati...
DATE: Oct 28, 2008
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NEW YORK (Bloomberg) — Loews Corp., the holding company run by New York's Tisch family, will inject $1.25 billion into CNA Financial Corp. after the insurance unit posted a third-quarter loss on investment declines and hurricane claims. Loews fell 12...
DATE: Oct 28, 2008
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TORONTO (Reuters) - A see-saw session on the Toronto Stock Exchange on Friday saw the the main index slump to hit a four-year low and then bounce back in a late-session rebound that could lead to a strong opening on today.
But market players are nowh...
DATE: Oct 27, 2008
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NEW YORK (Bloomberg) — American International Group Inc. has used $90.3 billion of a US government credit line since it was bailed out last month, an amount exceeding the size of the original loan meant to save the insurer.
AIG may need more than the...
DATE: Oct 27, 2008
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The Royal Gazette / Bermuda Stock Exchange (BSX) index was one of few share price indices in the world to achieve a gain last week.
Heavy trading in Butterfield Bank and sharp rises for utility companies resulted in a rise of more than 2.5 percent fo...
DATE: Oct 27, 2008
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NEW YORK (Bloomberg) — Bermuda-based Syncora Holdings Ltd.'s bond insurance unit has been downgraded by Moody's.
Syncora Guarantee Inc.'s financial strength rating was cut two levels to Caa1 from B2 and left under review with "direction uncertain," t...
DATE: Oct 27, 2008
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MOSCOW (AP) — The International Monetary Fund said yesterday it had reached a tentative agreement with Ukraine on a $16.5 billion loan to help the country out of its growing financial turmoil.
The agreement, however, is contingent on unspecified legi...
DATE: Oct 27, 2008
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US insurer Darwin — a recent acquisition of Bermuda-based Allied World Assurance Company — has had its financial strength rating (FSR) upgraded by AM Best to A from A-.
Best also affirmed Allied World's financial strength rating at A.
"Darwin's book ...
DATE: Oct 27, 2008
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The process of deleveraging is causing many casualties among individuals, corporations and countries everywhere. Despite massive government intervention across the world, there will be many more victims before some measure of stability returns. Needl...
DATE: Oct 27, 2008
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A Bermuda-based insurance brokerage executive has warned the industry to brace itself for a severe bolstering of regulation in the wake of the ongoing financial crisis.
Dennis Mahoney, chairman of Aon Global, told an insurance conference in Sydney, A...
DATE: Oct 27, 2008
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AUTHOR:
Jonathan Kent
