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  • Insurer Beazley Posts Record Profit in 2006 Wednesday, 7 Mar 2007 | 4:41 AM ET

    Lloyd's of London insurer Beazley Goup made record pretax profit in 2006, helped by low catastrophe claims and good investment returns, it said on Wednesday.

  • General Electric to Sell $2.9 Billion Swiss Re Stake Thursday, 1 Mar 2007 | 6:36 AM ET

    Swiss Re said General Electric would divest its stake worth around 3.5 billion Swiss francs ($2.9 billion), selling half to Swiss Re and placing the other half in the market.

  • Standard Life Names Grimstone as Next Chairman Thursday, 1 Mar 2007 | 3:00 AM ET

    UK life insurer Standard Life said on Thursday that Gerry Grimstone has been appointed as chairman-elect to take over from Brian Stewart.

  • Converium Seeks Support to Duck Takeover Wednesday, 28 Feb 2007 | 1:25 PM ET

    Swiss reinsurer Converium Holding  sought shareholder support Wednesday to fend off a takeover bid by French competitor Scor, promising higher future profits and a share buyback should the company remain independent.

  • Munich Re Posts 52% Drop in Fourt-Quarter Profit Wednesday, 28 Feb 2007 | 3:52 AM ET

    Reinsurer Munich Re on Wednesday said its fourth-quarter profit dropped by 52% because of a dip in its net investment income.

  • In 2002, the U.S. government enacted the Terrorism Risk Insurance Act, creating a Federal backup for insurers in the wake of the Sept. 11, 2001 attacks. TRIA expires at year's end. "Power Lunch" guests debated whether it's still a valuable instrument -- or has degenerated into "corporate welfare."

  • Scor Makes Hostile Bid for Converium Tuesday, 27 Feb 2007 | 1:51 AM ET

    Scor, the French reinsurance company, launched a hostile bid for the remaining shares in Converium Monday, Scor’s Zurich-based rival, but investors held out for more than the $2 billion on offer, Reuters reported. The proposed merger would create one of the world's top five reinsurers.

  • Axa's 2006 Profit Beats Predictions, Rising 18% Thursday, 22 Feb 2007 | 3:12 AM ET

    French insurance giant AXA said Thursday that improving sales in its life insurance and asset management businesses helped lift 2006 profit 18%.

  • Insurer Allianz Says Fourth-Quarter Net Rose 57% Thursday, 22 Feb 2007 | 3:06 AM ET

    Insurer Allianz on Thursday said fourth-quarter profit rose 57% as fewer claims were made.

  • Converium Rejects $2.5 Billion Offer from Scor Monday, 19 Feb 2007 | 7:06 AM ET

    Swiss reinsurer Converium Holding  said Monday it rejected an unsolicited 3.1 billion Swiss franc ($2.5 billion) offer for the business from Scor, France's largest reinsurer.

  • Working With The Weather Thursday, 15 Feb 2007 | 1:39 PM ET

    Much of the nation took a walloping from the weather in the past week. Some businesses did better than others, partly because of long-range forecasting. But even with the latest technology, it’s still a slippery slope.

  • ING Report Record Fourth-Quarter Profit Thursday, 15 Feb 2007 | 8:59 AM ET

    ING Groep, the Dutch bank and insurance company, posted a 14% rise in profit Thursday, mostly due to strength in its insurance arm and lower tax rates.

  • Standard Life 2006 Sales Rise Wednesday, 7 Feb 2007 | 7:01 AM ET

    Standard Life posted one of the U.K. sector's strongest growth rates for 2006 as new pension rules at home helped lift full-year sales by 47% and the insurer said it expected the momentum to continue into 2007.

  • Aviva Says Worldwide Sales Rose 22% Tuesday, 6 Feb 2007 | 6:09 AM ET

    Aviva, the world's fifth-largest insurance group based on gross premiums, said Tuesday worldwide sales rose 22 percent in 2006, boosted by the acquisition of AmerUS in the United States.

  • Both Swiss Re and HSBC are reacting to the current state of the London commercial property market by arranging deals which cash in on their prime real estate.

  • Allianz Claims of $454M From Storm Wednesday, 31 Jan 2007 | 3:46 AM ET

    Europe's largest insurer by gross premiums, Allianz, said Wednesday it expects claims of 350 million euros ($454 million) from the storm that hit Europe earlier this month.

  • The insurer was expected to post fourth-quarter earnings of $1.84 a share, according to a Thomson Financial consensus estimate, up from $1.49 last year.

  • WellPoint Fourth-Quarter Profit Rises, Revenues Light Wednesday, 24 Jan 2007 | 12:03 PM ET

    Managed care provider WellPoint said on Wednesday profit rose 23%, in line with estimates, on strong enrollment in its national accounts and tighter controls on administrative expenses, although medical cost trends worsened.

  • Allianz Buys Out Minority AGF Shareholders Thursday, 18 Jan 2007 | 5:19 AM ET

    German insurer Allianz  said Thursday it will buy out the minority shareholders of its French unit as part of a euro10.5 billion ($13.55 billion) plan to take control of all of its units.

  • Goldman to Buy USI for About $993 Million Tuesday, 16 Jan 2007 | 9:59 AM ET

    GS Capital Partners agreed to pay $17 a share for the insurance broker, representing a 9% premium over USI's closing price Friday of $15.55.

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