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Blog-re: Bermuda, fun in the sun?
The latest blog-re availible to read online now
Reinsurance | 11 Mar 2010
The Aldermanbury Declaration - watch the debate
If you missed yesterday's live webinar debating the recently launched Aldermanbury Declaration it is now available for viewing on-demand.
Post |
11 Mar 2010 | 
Hannover Re posts substantial profit growth
Hannover Re closed 2009 by generating an operating profit in excess of one billion euros for the first time.
Reinsurance | 11 Mar 2010
Mutual body blasts solvency II plans
"If the principle of proportionality introduced by Solvency II does not work in practice, we are likely to see aggressive market consolidation," claims AMICE boss.
Post | 11 Mar 2010
Omega claims gains elsewhere offset Lloyd's reduction
The group's gross premium income remained almost static on US$265.8m (2008: US$265.4m), although Omega claimed to nhave seen "significant growth in new operating platforms in Bermuda and US".
Post | 11 Mar 2010
CEA: still time to get Solvency II right despite fears over Ceiops
A new CEA report demonstrates that overly prudent capital requirements would restrict the insurance industry's role not only as a risk-absorber but also as an institutional investor financing long-term economic growth.
Post | 11 Mar 2010
Bolt warns underwriters of claims increase
Lloyd's recently appointed director of performance management Tom Bolt has warned underwriters to prepare for an increase in claims from financial institutions.
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10 Mar 2010 
Chaucer redomiciliation likely over tax fears
Chaucer has indicated that high corporation tax in the UK could force it to redomicile to Switzerland, Bermuda or Ireland in 2011, despite posting an increase in profit of £134.8m for 2009.
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10 Mar 2010
Hardy sees profits rocket before exchange
Bermuda-domiciled insurer Hardy has reported a steep increase in profit before tax and foreign exchange movements of £26.7m (2008: £4.4m), in contrast to a slight dip in profit before tax of £20.1m (2008: £23.1m). The combined ratio before foreign exchange movements was 78.1% (2008: 91.2%) while overall business volumes rose 40%.
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10 Mar 2010
QBE shakes up European arm
QBE Europe has puts its asset protection book into run-off, following a restructure of its product underwriting and distribution model.
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10 Mar 2010
Munich Re boss confident of €2bn profit in 2010 despite early losses
Gross premiums written rose by 9.5% to €41.4bn (€37.8bn). But if exchange rates had remained the same, premium volume would have increased by 9.9% compared with the previous year.
Post | 10 Mar 2010
Swiss Re gives quake and Xynthia loss estimates
Reinsurer claims losses for the European winter storm to be approximately $100m.
Post | 10 Mar 2010
Glacier reports $34m growth in net income
Glacier has reported net income for 2009 up to $60m and a total gross written premium decline pf 17% from 2008.
Reinsurance | 09 Mar 2010
PartnerRe Chile quake claims could reach $320m
PartnerRe has said it expects initial claims worth $220m-$320m, on a pretax basis, related to the recent devastating earthquake in Chile.
Reinsurance | 09 Mar 2010
Obama launches fresh attack on health insurers
President Barack Obama launched a fresh attack on health insurers in a speech on Monday and called on fellow Democrats to rise above politics and pass a healthcare overhaul in the next few weeks.
Reinsurance | 09 Mar 2010
Greenberg to testify on Gen Re deal
A state judge has ordered that former AIG Chief Executive Hank Greenberg will be deposed about the controversial reinsurance transaction between AIG and General Re.
Reinsurance | 09 Mar 2010
Marsh to take $600m hit on Kroll disposal
The Financial Times reports The Carlyle Group, Apax Partners and General Atlantic have all entered bids by the deadline for first expressions of interest in late February.
Post | 09 Mar 2010
Beazley delivers syndicate result
The board of managing agency Beazley Furlonge has announced its results for syndicate 623, which writes business on behalf of third party capital at Lloyd’s.
Post | 08 Mar 2010
Transatlantic costs for Q1 catastrophe events up to $90m
Transatlantic agrees to purchase 2m shares from AIG and announces preliminary cost estimates for first quarter 2010 catastrophe events which have occurred to date.
Reinsurance | 08 Mar 2010
QBE restructures European business
With immediate effect, QBE will operate four product underwriting divisions: casualty & motor; property; marine & energy; and reinsurance & specialist.
Post | 08 Mar 2010
Earthquake losses "manageable" for Chilean insurers, claims Moody's
Early estimates indicate that the magnitude 8.8 earthquake off the coast of Chile on 27 February, will bring high insured losses, which will likely pressure overall profitability.
Post | 08 Mar 2010
RMS: detailed damage reports following Turkish earthquake still scarce
The Unites States Geological Survey has reported a fixed focal depth of 6.2 miles (10 km) and an epicentral location close to the village of Basyurt, 340 miles (550 km) east of the Turkish capital, Ankara.
Post | 08 Mar 2010
Glacier agrees space deal
Glacier Insurance is to support the Space In-Orbit Insurance Consortium led by Sciemus Space Insurance Services with immediate effect.
Post | 08 Mar 2010
AIG to sell non-US life unit to MetLife
AIG’s board of directors approved the sale of the division to MetLife on March 5th, according to newswire Bloomberg.
Reinsurance | 08 Mar 2010
Prudential may exit some Asian lines after AIA swoop
Prudential may quit some countries in Asia should it seal the buy of AIG’s AIA, sources told newswire Reuters on Friday, allowing the bulked-up insurer to focus on key markets.
Reinsurance | 05 Mar 2010
AIG to sell remaining stake in Transatlantic
Troubled American insurance giant AIG is to sell its remaining stake in Transatlantic as part of its sell-off programme that saw the insurer announce the sale of its Asian unit AIA to Prudential this week.
Reinsurance | 05 Mar 2010
Corporate tax cut in New York proposed by NYIE - Wrynn
The New York Insurance Exchange may seek lower federal corporate tax to enhance its appeal, according to the Insurance Superintendent
Reinsurance | 05 Mar 2010
Cooper Gay to make cuts in aerospace division
Cooper Gay is making redundancies in its aerospace division, Reinsurance has learned.
Reinsurance | 05 Mar 2010
Slower ascent for airline insurance in 2010
Aon's airline insurance market outlook 2010 report shows that the average lead hull and liability premium in the airline insurance market rose by 20% during 2009, taking total lead hull and liability to US$1.9 billion.
Post | 05 Mar 2010
Taiwanese earthquake to cost around $1bn, says Eqecat
An earthquake that hit Taiwan earlier this week has caused economic damage of around $1bn, risk modelling firm Eqecat has said.
Reinsurance | 05 Mar 2010
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