Europe
Swiss Re reports net loss of $665m
Swiss Re has reported a net loss of US$665m for the first quarter of 2011, compared to a profit of US$158m recorded in the same period of 2010.
Zurich profits fall 33% in Q1 as it suffers $517m nat cat loss
Zurich Financial Services Group (Zurich) today reported a 33% drop in business operating profit of $849m (Q1 2010: $1.3bn) and a 32% drop in net income after tax of USD $637m (q1 2010: $935m) for the three months ended March 31, 2011.
Swiss Re reports net loss of $665m
Swiss Re has reported a net loss of US$665m for the first quarter of 2011, compared to a profit of US$158m recorded in the same period of 2010.
Zurich profits fall 33% in Q1 as it suffers $517m nat cat loss
Zurich Financial Services Group (Zurich) today reported a 33% drop in business operating profit of $849m (Q1 2010: $1.3bn) and a 32% drop in net income after tax of USD $637m (q1 2010: $935m) for the three months ended March 31, 2011.
Editor's comment: tying the knot
The rest of the world may remain obsessed by romance or reactionaries but the UK insurance industry has unveiled its own all-consuming love affair this week. Acquisitions abound in the headlines and bullish talk is nothing short of bountiful.
Interview - Ash Bathia: building the profitability platform
QBE Europe kept competitors on their toes as it built the business and branched out. Underwriting boss Ash Bathia tells Mairi MacDonald where his sights are now set.
Post history - 30 years ago: Sun Alliance makes return to Austria
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 30 years ago reveals.
Irish brokers wary of Quinn business model after takeover
Uncertainty remains over the business model of the former Quinn Insurance, following its takeover by Liberty Mutual and Anglo Irish Bank, according to Irish brokers.
QBE sets sights on $5bn PCM target
QBE Europe's property, casualty and motor division has set its sights on becoming a $5bn (£3.03bn) business by the end of 2015. Ash Bathia, PCM chief underwriting officer, said the business is growing from its current premium level of $2.7bn, while still…
Post magazine – 5 May 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Allianz UK business confirms 2012 rebranding deadline
Mondial Assistance in the UK is to become Allianz Global Assistance by the end of 2012, it announced today.
Mapfre Q1 profits climb 13.5%
Spanish insurer Mapfre has posted post-tax profits of €310.1m (£279.2m) for the first quarter of 2011 – a 13.5% increase on the figure for 2010.
Allianz: Q1 2011 profit to be close to Q1 2010 despite nat cat hit
Based on preliminary figures, Allianz achieved total revenues of nearly Euros 30bn in the first quarter of 2011, compared to Euros 30.6bn in the first quarter of 2010.
Allianz UK business confirms 2012 rebranding deadline
Mondial Assistance in the UK is to become Allianz Global Assistance by the end of 2012, it announced today.
Mapfre Q1 profits climb 13.5%
Spanish insurer Mapfre has posted post-tax profits of €310.1m (£279.2m) for the first quarter of 2011 – a 13.5% increase on the figure for 2010.
Allianz: Q1 2011 profit to be close to Q1 2010 despite nat cat hit
Based on preliminary figures, Allianz achieved total revenues of nearly Euros 30bn in the first quarter of 2011, compared to Euros 30.6bn in the first quarter of 2010.
XL reveals Q1 $163m net loss
XL Group has blamed its net loss of $227.3m in the first quarter of the year on the high level of natural catastrophe-related claims in its property & casualty book.
Irish brokers wary of Quinn business model after takeover - Insurance News Now – 5 May 2011
Post reporter Amy Ellis outlines this week's major general insurance stories including the uncertainty over the business model of the former Quinn Insurance following its takeover by Liberty Mutual and Anglo Irish Bank.
XL reveals Q1 $163m net loss
XL Group has blamed its net loss of $227.3m in the first quarter of the year on the high level of natural catastrophe-related claims in its property & casualty book.
Irish brokers wary of Quinn business model after takeover - Insurance News Now – 5 May 2011
Post reporter Amy Ellis outlines this week's major general insurance stories including the uncertainty over the business model of the former Quinn Insurance following its takeover by Liberty Mutual and Anglo Irish Bank.
Generali shareholders approve 2010 statements and €0.45 dividend
The shareholders of Assicurazioni Generali SpA have approved the 2010 financial statements and the distribution to shareholders of a per-share dividend of €0.45 (+28.6% relative to 2009).
KPMG warns over "hindsight" penalties in the wake of Solvency II delay fears
Omnibus 2 is a significant milestone for Solvency II and delays to its finalisation are having an unwanted impact on the Solvency II timeline, increasing fears that neither insurers nor regulators may be fully prepared for implementation on 1 January…
Hannover posts profit despite 123.8% non-life COR
Hannover Re has reported an operating profit of Euro 46.1m (Q1 2010 Euro 238.8m) for the first three months of 2011.
Indonesia signs tax agreement with Guernsey
Guernsey has signed a bilateral Tax Information Exchange Agreement with Indonesia.