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Here some of Tuesday's big movers on European stock markets:Whitbread, Storebrand, Iberia, ABN Amro, Barclays, Friends Provident, Technical Olympic and Deutsche Post.
British insurer Friends Provident's headline profits slipped 3% in 2006 as lower earnings from its asset management arm offset strong volumes and a jump in new business profits.
State Farm Fire & Casualty Co. has agreed to re-examine more than 35,000 policyholder claims filed following Hurricane Katrina and to 'make millions of dollars available' for additional payments, Mississippi Insurance Commissioner George Dale said Monday.
Henry McVey was "not really" surprised by the Feb. 27 market meltdown. But then, the chief U.S. investment strategist for Morgan Stanley says he'd seen the omens in January. He joined CNBC's Maria Bartiromo to discuss what might come next -- and how he's preparing for it.
Swiss reinsurer Converium is looking for rival bidders to fend off Scor's hostile takeover attempt but has not yet received any firm offers, the company said on Friday.
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.
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.
UK life insurer Standard Life said on Thursday that Gerry Grimstone has been appointed as chairman-elect to take over from Brian Stewart.
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.
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, 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.
French insurance giant AXA said Thursday that improving sales in its life insurance and asset management businesses helped lift 2006 profit 18%.
Insurer Allianz on Thursday said fourth-quarter profit rose 57% as fewer claims were made.
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.
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 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 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, 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.
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