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Reinsurance

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  • MILAN, May 20- Bermuda- based reinsurer PartnerRe said on Wednesday it was ready to talk to Italian holding company Exor to see if there was room to improve its $6.8 billion takeover bid. "While we believe that PartnerRe is worth materially more than Exor has offered and the terms they have proposed are deficient, we stand ready to negotiate," PartnerRe Chairman...

  • May 12- Italian holding company Exor sweetened its all-cash offer for Bermuda- based reinsurer PartnerRe to $6.8 billion after its previous attempt to trump a bid by Axis Capital Holdings was rejected. PartnerRe rejected Exor's earlier $6.4 billion offer last week, arguing it undervalued the company. Exor, PartnerRe's largest shareholder with a 9.32 percent...

  • May 12- One of PartnerRe Ltd's biggest shareholders said Exor SpA's sweetened offer for the Bermuda- based reinsurer was "clearly superior" to Axis Capital Holdings Ltd's for the company. Peter Langerman, chief executive of top-five shareholder Franklin Mutual Advisers LLC, told Reuters on Tuesday that the Axis deal would "be voted down, no question about it".

  • May 8- Italy's Exor SpA will consider raising its $6.4 billion offer for reinsurer PartnerRe Ltd at a board meeting next Tuesday, two sources told Reuters on Friday. The Italian holding company, controlled by the Agnelli family, made its all-cash offer for PartnerRe in April, disrupting an all-share deal between Axis Capital Holdings Ltd and PartnerRe to create...

  • *Exor "fully committed" to PartnerRe bid. MILAN/ BANGALORE, May 4- Italy's Exor said on Monday it remained fully committed to its $6.4 billion offer for PartnerRe after the Bermuda- based reinsurer rejected its attempt to trump a bid by Axis Capital Holdings. The Italian holding company, controlled by the Agnelli family, made its all-cash offer for PartnerRe in April,...

  • MILAN, May 4- Italy's Exor said on Monday it remained fully committed to its $6.4 billion offer for PartnerRe after the Bermuda- based reinsurer rejected its attempt to trump a rival bid by Axis Capital Holdings. The Italian holding company, controlled by the Agnelli family, made its all-cash offer for PartnerRe in April, disrupting an $11 billion all-share deal...

  • May 4- Loews Corp reported a lower-than-expected quarterly profit as its energy subsidiary reported a loss and revenue fell at its insurance unit. According to Thomson Reuters I/B/E/S, Loews earned 69 cents per share on an adjusted basis, below the average analyst estimate of 75 cents. Diamond Offshore Drilling Inc, Loews' second-biggest subsidiary, reported a...

  • HONG KONG, May 3- Fosun International Ltd, an investment company controlled by Chinese billionaire Guo Guangchang, said it had offered to buy the 80 percent it does not already own in U.S. insurer Ironshore Inc for $1.8 billion. The move follows Fosun's decision to buy a 20 percent stake in the casualty and property insurer for $464 million in August 2014 in a bid to...

  • OMAHA, Neb., May 1- Warren Buffett's Berkshire Hathaway Inc on Friday said first-quarter profit rose 10 percent, and operating results easily beat forecasts, boosted by its railroad and insurance businesses and gains from derivatives. Net income for the Omaha, Nebraska- based insurance and investment conglomerate rose to $5.16 billion, or $3,143 per share, from...

  • ZURICH/ LONDON, April 30- Swiss Re, the world's second-largest reinsurer, beat forecasts with a 17 percent rise in first-quarter net profit on Thursday, boosted by strong investment returns, and said it was able to renew policies at "acceptable" rates. Swiss Re and other reinsurers help insurance companies cover the cost of major damage claims, such as for...

  • Profits up 17% at world's second-largest reinsurer Thursday, 30 Apr 2015 | 5:17 AM ET
    The Swiss Re building in Zurich is shown in this Feb. 19, 2009 photo.

    Swiss Re, the world's second-largest reinsurer, posted a 17 percent rise in net profit and said reinsurance rates remained attractive.

  • Higher yields would boost our sector: Swiss Re CFO Thursday, 30 Apr 2015 | 3:40 AM ET
    Higher yields would boost our sector: Swiss Re CFO

    Swiss Re CFO, David Cole, says higher yields would be a boon to the reinsurance sector.

  • *Ericsson, Bilfinger slump; Michelin surges. LONDON, April 23- European shares slipped on Thursday, with Germany's DAX index underperforming following a disappointing purchasing managers' survey while weak results from Ericsson hit technology stocks. Tech shares were hit as telecom equipment maker Ericsson slumped 12 percent after it posted...

  • European shares fall after business surveys disappoint Thursday, 23 Apr 2015 | 4:35 AM ET

    *Ericsson, Bilfinger slump; Michelin surges. LONDON, April 23- European shares gave up early gains on Thursday after a survey showed growth in Germany's private sector slowed and French business activity barely grew in April. Mobile telecom equipment maker Ericsson fell 8.1 percent after saying it expected sales in its main North American market to stay...

  • NEW YORK, April 21- In a last-ditch effort to avoid trial, former American International Group Inc Chairman Maurice "Hank" Greenberg is seeking permission to ask New York's highest court to throw out the accounting fraud case against him. Greenberg made his request the day before closing arguments are expected in the federal Court of Claims in Washington, D.C., in a...

  • LONDON, April 21- The European Union will mount a fresh bid to persuade the United States to free up the billions of euros in collateral it requires foreign reinsurers to set aside against policies. EU states agreed on Tuesday to give the bloc's executive European Commission a mandate to negotiate a regulatory pact with the United States. European reinsurers,...

  • NEW YORK, April 21- In a last-ditch effort to avoid trial, former American International Group Inc Chairman Maurice "Hank" Greenberg is seeking permission to ask New York's highest court to throw out the state's accounting fraud case against him. On Tuesday, Greenberg's lawyers asked that court for permission to appeal its unanimous decision to the top state...

  • *Q1 operating profit $2.53/ share, a cent below estimate. *Pretax net investment income down about 20 pct to $592 mln. April 21- Property and casualty insurer Travelers Cos Inc's quarterly net profit fell 21 percent, narrowly missing analysts' estimates, as low interest rates and a drop in value of its energy investments squeezed the company's net investment income.

  • LONDON, April 21- The European Union will mount a fresh bid to persuade the United States to free up the billions of euros in collateral it requires foreign re-insurers to set aside against policies. EU states agreed on Tuesday to give the bloc's executive European Commission a mandate to negotiate a regulatory pact with the United States.

  • LONDON, April 21- The European Union will mount a fresh bid to persuade the United States to free up the billions of euros in collateral it requires foreign re-insurers to set aside against policies. EU states agreed on Tuesday to give the bloc's executive European Commission a mandate to negotiate a regulatory pact with the United States.