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Germany’s Allianz and Australian group QBE bear the bulk of the insurance liability from this week’s fatal train crash in northwest Spain, Reuters reported, according to sources at the companies. While Allianz’s Spanish subsidiary covers a compulsory...

RenaissanceRe Holdings has expanded its reinsurance operations with the launch of a US platform. The Bermuda re/insurer said it has formed RenaissanceRe Underwriting Managers US LLC, a specialty reinsurance agency based in Connecticut, which will sup...

Arch Capital Group last night posted net income available to common shareholders for the second quarter of $171.5 million compared to $202.0 million for the same period in 2012. Arch said its second quarter results included losses for catastrophic ev...

XL Group has formed a new Bermuda company with private equity firm Stone Point Capital, which will focus on insurance-linked securities and other reinsurance products. The re/insurer said the new Bermuda-based company will act as an investment manage...

Ace chairman and CEO Evan Greenberg said an influx of Wall Street capital into the reinsurance industry is pressuring rates and that he is prepared to cut sales of backstop coverage. This as the re/insurer posted a record profit for the second quart...

Aspen Insurance Holdings Limited posted a profit of $40.1 million for the quarter ending June 30. The company’s second-quarter profit of $0.36 per share was down from $84.6 million or $1.03 per share in the same period last year. Net-written premium...

Montpelier Re Holdings posted a second-quarter loss of $23.2 million as the re/insurer faced catastrophe loss events and a completive market. The loss compared to a profit of $65.5 million in the 2012 second quarter. Gross insurance and reinsurance p...

New York's top financial regulator has expanded a probe into whether reinsurance companies have written policies on international trade with Iran, which could potentially violate new US sanctions. In a letter posted to its website, the state's Depart...

Validus Holdings said last night it posted second-quarter net income of $30.7 million, compared to $167.6 million for the three months ended June 30, 2012 — a decrease of $136.9 million, or 81.7 percent. Validus' chairman and CEO Ed Noonan stated: “I...