Reinsurance
Greenberg seeks to end civil fraud case
Former AIG chief exec Hank Greenberg has asked a judge to dismiss a civil fraud lawsuit brought by New York's attorney general, who is seeking to hold him personally liable for a sham reinsurance transaction.
Munich Re reduces stake in Swiss insurer with €119m share sale
Munich Re has sold part of its stake in Swiss insurance group Helvetia Holdings, reducing its shareholding from approxoimately 8.2% to under 3%.
Munich Re reduces stake in Swiss insurer with €119m share sale
Munich Re has sold part of its stake in Swiss insurance group Helvetia Holdings, reducing its shareholding from approxoimately 8.2% to under 3%.
Cooper Gay revenue grows 29%
Cooper Gay has reported its annual results for the financial year ending 31 December 2009.
BMS poaches Guy Carpenter ILW specialist
BMS has appointed Stefano Nicolini, as senior vice president concentrating on industry loss warranty (ILW) business.
Beazley changes reporting currency
Lloyd's insurer Beazley is to change its reporting currency to US dollars for the 2010 financial year onward.
AIG unit unwinds CDS positions
AIG has unwound its remaining CDS swaps with Goldman Sachs according to newswire Reuters.
Poland Central Bank governor in crash that killed Polish president
The governor of the Poland’s Central Bank is the latest major political figure to be found in the Polish plane crash that killed the country’s president in Russia this weekend.
Poland Central Bank governor in crash that killed Polish president
The governor of the Poland’s Central Bank is the latest major political figure to be found in the Polish plane crash that killed the country’s president in Russia this weekend.
US seek exit from AIG stake within a year: WSJ
The government's bailout of the financial system is expected to cost $89bn, much lower than earlier projections, the Wall Street Journal reported on Sunday, citing Treasury Department officials.
Aon Benfield warns of 20-30% reduction in profit for crop insurers
Aon Benfield report reveals that proposed changes to the Standard Reinsurance Agreement by the USDA could induce challenging market conditions for US crop reinsurers participating in the Federal insurance program.
Overall Xynthia loss put at Euros 1.28bn
Perils AG today disclosed its initial loss estimate for Windstorm Xynthia, which occurred at the end of February 2010.
RSA and Axa named as potential bidders for Quinn
Dutch insurance giant Eureko, RSA and Axa have been named among the 20 or so predators circling the Quinn Insurance group, according to reports in Ireland.
Overall Xynthia loss put at Euros 1.28bn
Perils AG today disclosed its initial loss estimate for Windstorm Xynthia, which occurred at the end of February 2010.
RSA and Axa named as potential bidders for Quinn
Dutch insurance giant Eureko, RSA and Axa have been named among the 20 or so predators circling the Quinn Insurance group, according to reports in Ireland.
Generali capital requirements “not a problem”
Assicurazioni Generali SpA’S capital requirements are “not a problem,” an official at the Italian insurer said in an interview with newswire Bloomberg.
Ambac increase in income but may file for bankruptcy
US credit insurer's results aided by $443.9m tax refund allowing the credit insurer to carry back 2008 and 2009 operating losses as far back as 2003
CRM in quota share deal with Amtrust
Bermuda workers’ compensation (re)insurer CRM Holdings has entered into a quota share agreement with US specialty property casualty insurer AmTrust Financial Services
Reinsurers face tough times in soft market – AM Best
AM Best’s global financial review of reinsurance notes US taxation and underwriting discipline amongst the major challenges to be faced by reinsurers
Former Hartford CEO gets $39.9m payout despite bailout
Ramani Ayer, whose stock and bond bets pushed the Hartford Financial Services Group into a US government bailout, will receive a pension payment of $39.9m in May.
Berkshire Hathaway to be sued after fraud accusations
Ex-manager of Warren Buffett’s RV business claims firing violated ethics
Sagicor revenue climbs to $1.2bn
The Sagicor Group of Companies reported total revenue for the year climbed to $1.2bn (£781m) from $1.1bn for the previous year. Premium revenue, net of reinsurance, grew by $130.9m or 18.4% to reach $842.9m.
Hannover Life Re expands mortality team
The life and health reinsurance arm of European giant Hannover Re, has added three new hires to its US mortality solutions team.
Novae predicts $10-15m earthquake loss
Lloyd's insurer Novae Group today announced initial estimates of losses from the Chilean earthquake and from Windstorm Xynthia.