49296 results returned for search: "" category ("Other" AND "Business")
NEW YORK (Bloomberg) ? Liberty Mutual Group and Safeco Corp. are bidding for the US insurance arm of Credit Suisse Group?s Winterthur, a unit that may fetch as much as $1.5 billion, said three people involved in the auction.
Boston-based Liberty Mutu...
DATE: Oct 26, 2006
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NNEW YORK (Bloomberg) ? Robert Trosten, the former chief financial officer of bankrupt futures trader Refco Inc., told a judge he is innocent of charges that he defrauded investors of more than $1 billion.
Trosten, 37, who was indicted on Tuesday, en...
DATE: Oct 26, 2006
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VIENNA (Bloomberg) ? Ex-Bawag PSK Bank chief executive Helmut Elsner and Wolfgang Flottl, who traded on the bank?s behalf, were among nine people charged by Austrian prosecutors over 1.44 billion euros ($1.8 billion) in failed hedge-fund investments....
DATE: Oct 26, 2006
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Strng catastrophe reinsurance premiums in the wake of the record 2005 hurricane season helped Endurance Specialty Holdings Ltd. post a $128.2 million profit in the 206 third quarter, the company said last night.
Endurance posted net income of $1.74 a...
DATE: Oct 26, 2006
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NEW YORK (Bloomberg) ? Aon Corp., the world's second-largest insurance broker, yesterday agreed to sell a specialty property and casualty unit to Old Republic Insurance Co. for $85 million in cash.
Aon will also transfer $300 million in unearned prem...
DATE: Oct 26, 2006
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Willis Group Holdings Ltd. yesterday said its third-quarter net income rose 49 percent to $89 million, or 56 cents a share, from $45 million, or 28 cents a share, a year earlier.
The insurance broker said its earnings were affected by gains from the ...
DATE: Oct 26, 2006
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Flagstone Reinsurance Holdings Ltd. became the first of the ?Class of 2005? Bermuda reinsurers to announce plans to sell shares to the public when it registered an initial public offering of up to $175 million in stock.
Flagstone Reinsurance, which w...
DATE: Oct 26, 2006
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Ace Ltd. chief executive officer Even Greenberg warned yesterday that reinsurance business was being priced too aggressively by newcomers to the market, and it is likely to increase as capital grows.
Mr. Greenberg, speaking on a conference call yeste...
DATE: Oct 26, 2006
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NEW YORK (Reuters) ? Cooper Industries Ltd., a maker of electrical products and tools, said Tuesday its quarterly profit rose 26 percent on demand from industrial and utility customers and from non-residential construction.
It expects those trends to...
DATE: Oct 25, 2006
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After losing $1 billion in the third quarter of 2005, XL Capital last night beat analysts? expectations when it turned a profit of more than $400 million.
XL said it had net income of $415.8 million or $2.32 per share compared to a $1.04 billion or $...
DATE: Oct 25, 2006
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