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Insurance

Reinsurance

"Insurers expect higher profits"

TORONTO (Reuters) - Canadian life insurers are expected to report higher profits on the back of stronger equity markets and recovering bond yields, but the results may give only a temporary bump to shares that have surged over the past three months. ...
Feb 07, 2011
Other

"Aspen’s earnings slump but beat forecasts"

Aspen Insurance Holdings Ltd today reported a 26.6 percent fall in fourth-quarter earnings compared to 2009, to $92.7 million. However, the company comfortably beat analysts’ expectations, posting $1.02 per share in operating earnings, compared to a ...
Feb 07, 2011
Other

"PartnerRe 4Q profits fall 83%"

PartnerRe today announced a profit of $57 million for the fourth quarter down 83 percent from the same period in 2009. The decrease was largely down to losses related to the upward revision of claims from the September earthquake in New Zealand and f...
Feb 07, 2011
Reinsurance

"Allied World rises after paying $53.6 million for AIG warrants"

NEW YORK (Bloomberg) - Allied World Assurance Company Holdings AG, the insurer whose co-founders include American International Group Inc. and Chubb Corp., repurchased a warrant from AIG for $53.6 million. Allied World rose to a four-and-a-half year ...
Feb 04, 2011
Reinsurance

"Tough year in store for insurers"

International business faces a challenging year ahead in an increasingly soft market with downward pressure on insurance rates and a tough investment environment offering minimal returns. That is according to industry experts who said that a number o...
Feb 04, 2011
Reinsurance

"Greenberg: Australian floods to cost Ace up to $90 million"

Ace Ltd estimates the Australian floods will cost it between $75 million and $90 million. The range was revealed by the insurer's chairman and chief executive officer Evan Greenberg in a conference call yesterday, following the company's announcement...
Feb 04, 2011
Reinsurance

Advisen: P&C insurance industry overcapitalised by $74b

The property and casualty insurance industry faces a “slow, painful haemorrhaging of capital” - unless a huge catastrophe turns the market. That is the view of industry analysts Advisen, who published a report yesterday which suggested the industry w...
Feb 03, 2011
Reinsurance

"Hannover Re sees ‘broadly stable’ rates in renewals"

MUNICH (Bloomberg) Hannover Re, the world’s third-biggest reinsurer, confirmed its profit forecast for this year after negotiating better-than-expected rates with clients in the January round of renewals. “For 2011 we see sufficient opportunities for...
Feb 03, 2011
Reinsurance

"Ace profit rises to $1b"

NEW YORK (Bloomberg) Ace Ltd last night said fourth-quarter profit rose five percent on improved returns from investments and a rise in policy sales. Net income advanced to $1 billion, or $2.92 a share, from $953 million, or $2.81, a year earlier, th...
Feb 03, 2011
Reinsurance

"RAA to hold training programme"

The Reinsurance Association of America (RAA), in conjunction with the Association of Bermuda Insurers and Reinsurers (ABIR) and the Bermuda Insurance Institute (BII), has announced it will be hosting a training programme for re/insurance professional...
Feb 03, 2011
Reinsurance

"Ace Ltd completes $75m acquisition"

Ace Ltd. has announced the completion of its acquisition of New York Life’s Korea operations for approximately $75 million in cash. The original October 2010 purchase agreement with New York Life was amended to allow for separate closings for the Kor...
Feb 02, 2011
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