Reinsurance
RenRe reports Q1 net income of $165m
Bermuda (re)insurer RenaissanceRe has reported net income of $165m, or $2.73 per diluted common share, in the first quarter of 2010. This compares to $97.3m for the first quarter of 2009.
Gable in new French broking tie-up
AIM-listed Gable has signed a new agreement with its French broker, France Assurance Consultants, to provide a programme of property related risk insurance.
US stock market plunges
The US stock market plunged on Tuesday after downgrades to debt ratings in Greece and Portugal sent stocks falling over 2% at the end of trading.
Montepelier makes minor Q1 gains despite cat losses
Montpelier Re, the Bermudian (re)insurer, managed to eke out a gain in the first quarter of the year, despite having a monster jump in combined ratio.
QBE CEO content with alllowances for large claims after $470 Q1 hit
QBE has revealed that its estimated large risk and catastrophe claims, which are defined as net claims of $2.5m and above, for the year to date are $470m. This compares with an estimated net $430m for the same period in 2009.
Scor Q1 net income falls 61%
High natural catastrophe losses are behind Scor’s reported €36m losses in the first quarter of 2010, according to the company.
Gable in new French broking tie-up
AIM-listed Gable has signed a new agreement with its French broker, France Assurance Consultants, to provide a programme of property related risk insurance.
QBE CEO content with alllowances for large claims after $470 Q1 hit
QBE has revealed that its estimated large risk and catastrophe claims, which are defined as net claims of $2.5m and above, for the year to date are $470m. This compares with an estimated net $430m for the same period in 2009.
Congregational launches subsidiary MGA
Congregational & General Insurance is set to launch a subsidiary MGA named Integra Insurance Solutions, generating £9m of extra homeowners income, according to the firm.
Chedid Re establishes Saudi subsidiary
Reinsurance broker establishes Saudi Arabia subsidiary which has been licensed by the Saudi Arabian Monetary Agency (SAMA) to provide reinsurance brokerage services across the Kingdom.
W R Berkley swings to Q1 profit
W R Berkley has reported net income for the first quarter of 2010 of $119 compared with a loss of $20m for the first quarter of 2009.
US financial reforms stumble in Senate
The most sweeping overhaul of US financial services rules since the Great Depression stumbled in the Senate on Monday as Republicans united to prevent action on the bill.
Prudential shareholder in talks with UK insurers on group bid
Capital Group has approached Aviva, Resolution and another UK insurer to attract bids according to The Times.
RGA's Q1 operating profit up 38%
Reinsurance Group of America reports rise in quarterly operating profit, helped by a 21% growth in net premiums earned.
Axis reports drop in net income
Axis Capital has reported a first quarter net income available to common shareholders of $112m, compared with net income of $116m for the first quarter of 2009 as a result of catastrophe losses.
Arch reports Q1 premium declines
Arch Capital reported a decline in revenue and reduced underwriting profitability in the first quarter of 2010.
Qatar Insurance Q1 profit rises 2.1% to $59m
Middle Eastern insurer sees profits and underwriting income grow, but gross premiums fall in the first quarter of 2010.
Geneva Association opposes IMF proposal
Insurance think tank, The Geneva Association has issued a letter to the Central Bank Governors of the G20 in which it claims the financial stability tax proposal of the International Monetary Fund fails to adequately address the distinct nature of the…
BPO firm expects to see growth in second half of 2010
Xchanging, the business processing company, today said it expected growth to be weighted towards the second half of 2010 due to the time it takes to conclude deals in its markets, including the London insurance market.
Geneva Association opposes IMF proposal
Insurance think tank, The Geneva Association has issued a letter to the Central Bank Governors of the G20 in which it claims the financial stability tax proposal of the International Monetary Fund fails to adequately address the distinct nature of the…
Guy Carpenter appoints new president and CEO
Chris McKeown has been appointed president and CEO of North America broking operations at Guy Carpenter & Company.
C&G subsidiary launch
Congregational & General Insurance is set to launch a subsidiary MGA named Integra Insurance Solutions, generating £9m of extra homeowners income, according to the firm.
BPO firm expects to see growth in second half of 2010
Xchanging, the business processing company, today said it expected growth to be weighted towards the second half of 2010 due to the time it takes to conclude deals in its markets, including the London insurance market.
FSA to end cashless financial reinsurance use as Tier 1 capital
The FSA has responded to the recent trend for UK insurers to strengthen their capital base using cashless financial reinsurance (CFR) - a transaction with no upfront cost - by proposing it should no longer count as Tier 1 capital by October 2010,…