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First-quarter net profit at Swiss Re dropped by half, a bigger fall than expected, and the world's biggest reinsurer announced fresh credit writedowns of 819 million Swiss francs ($776.3 million).
First-quarter premium income from continuing operations at Swiss Life dropped 3 percent to 6.6 billion Swiss francs ($6.26 billion), but the life insurer saw no reason to revise its targets.
Private equity firm Texas Pacific Group is considering a bid for Royal Bank of Scotland's 8 billion pound ($15.9 billion) insurance arm, the Daily Telegraph said on Friday.
MetLife,the largest life insurer in he United States by assets, said on Thursday first-quarter net income fell 37 percent, hurt by investment losses.
I didn't post yesterday because I was in Philadelphia shooting a story for an upcoming episode of "The Business of Innovation" on CNBC. It's a piece about big pharma and we went to Philly to interview the still very busy former CEO of Merck (two CEOs ago), Dr. Roy Vagelos.
Europe's biggest insurer Allianz unveiled writedowns from the global financial crisis of 900 million euros ($1.4 billion) in the first quarter and said the turmoil could endanger its medium-term goals.
Insurer and takeover target Insurance Australia Group said on Monday it has lowered its insurance margin forecast for fiscal 2008 to 6-8 percent due to storm costs and widening credit spreads.
China's top life insurer China Life Insurance reported a 61 percent fall in first-quarter profit, according to Chinese accounting standards, dented by a poor investment performance.
Warren Buffett's new municipal bond insurer has received its second AAA credit rating, just months after it was created in response to the stumbles of veteran insurers like Ambac and MBIA. That's much faster than executives at those companies and some analysts had predicted.
Don't touch the bond insurers, Cramer says. Instead, go with these.
Auto and home insurer Liberty Mutual Group has agreed to buy property and casualty insurer Safeco for $6.2 billion in a deal that would make Liberty Mutual the fifth largest U.S. property and casualty insurer.
European shares fell on Thursday, led lower by Nokia after the world's biggest maker of mobile phones failed to impress investors with its outlook, dragging down other technology and telecom stocks.
Munich Re's CEO says Warren Buffett's Berkshire Hathaway holds a stake in the German reinsurer.
The world's biggest pharma company is stepping up to the plate again. After the closing bell today PFE announced it's doing a deal worth up to $440 million over time with a baby biotech called Avant Immunotherapeutics.
The resignation of General Re's CEO, apparently in response to pressure from Federal prosecutors, is generating some heated debate on whether Washington should stay out of Warren Buffett's boardroom. See Closing Bell's heated discussion on the issue.
QBE Insurance Group, Australia's biggest insurer by premium income, said on Tuesday smaller rival Insurance Australia Group had rejected a $6.8 billion takeover proposal.
FGIC, whose main unit is a bond insurer, said on Monday it is looking at strategic alternatives to boost its capital and protect policy holders, including setting up a new insurer that would focus on municipal bonds.
In the "You don't say?" file, the U.S. Geological Survey is predicting that California has a "99.7 percent chance" of getting hit by an earthquake of magnitude 6.7 or worse in the next 30 years. This information is used by insurance companies in setting earthquake policy rates.
General Re Chairman and CEO Joseph Brandon, who had once been seen as a possible successor to Warren Buffett, has resigned. He apparently fell victim to pressure from the Federal government to have him ousted.
Berkshire Hathaway Assurance Corp., Warren Buffett's fledgling bond insurer, has received AAA financial strength and financial enhancement ratings from Standard & Poor's Rating Services, the top rating available.
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