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Reinsurance

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  • Jan 25- Axis Capital Holdings Ltd and PartnerRe Ltd have agreed to an $11 billion merger to create one of the world's largest reinsurers, PartnerRe said on Sunday. The combined company will have gross premiums topping $10 billion, total capitalization of more than $14 billion, and total cash and invested assets of more than $33 billion, according to the PartnerRe...

  • NYSE stocks posting largest volume decreases Friday, 23 Jan 2015 | 6:04 PM ET

    NEW YORK— A look at the 10 biggest volume decliners on New York Stock Exchange at the close of trading:. Blue Capital Reinsurance Holdings Ltd.: Approximately 2,200 shares changed hands, a 87.3 decrease from its 65- day average volume. The shares fell$. 17 or 2.8 percent to $5.80.

  • NEW DELHI, Jan 22- India and the United States were trying to narrow differences on nuclear trade on Thursday ahead of President Barack Obama's visit, but New Delhi ruled out a change in its liability law that has choked off U.S. investment. Nuclear commerce worth billions of dollars was meant to be the centrepiece of a new strategic relationship between the...

  • Jan 22- Property and casualty insurer Travelers Cos Inc reported a 5 percent rise in quarterly net profit, helped by higher underwriting gains and lower losses from natural disasters. The company reported operating earnings of $3.07 per share for the fourth quarter ended Dec. 31. The company said net income rose to $1.04 billion, or $3.11 per share, in the fourth...

  • Jan 9- XL Group Plc will buy underwriter Catlin Group Ltd for about 2.79 billion pounds, giving the Bermuda- based insurer and reinsurer a bigger chunk of the Lloyd's of London market. XL Group's shares were untraded before the bell in New York after closing at $35.42 on Thursday. Catlin, which sells insurance for everything from flooding to kidnapping and is also...

  • Reinsurers saw further price drop in Jan - broker Friday, 2 Jan 2015 | 9:15 AM ET

    FRANKFURT, Jan 2- Reinsurance prices slid at the start of the year for contracts starting on Jan. 1, as supply outstripped demand following a reduction in natural catastrophe damage claims, broker Willis Re said on Friday. Big reinsurers such as Munich Re, Swiss Re and Hannover Re are due to release the results of their January contract negotiations in the coming...

  • *Allianz also insurer for lost Malaysia Airlines planes. HONG KONG, Dec 29- German insurer Allianz said on Monday it was the lead re-insurer to the AirAsia jet missing off the Indonesian coast with 162 people on board, making it the third major airline accident it has been involved in this year. "We can confirm that Allianz Global Corporate& Specialty UK is the lead...

  • Allianz is lead reinsurer to missing AirAsia plane Monday, 29 Dec 2014 | 12:10 AM ET

    HONG KONG, Dec 29- German insurer Allianz is the lead re-insurer, through one of its divisions, to the AirAsia plane that went missing on Sunday and is presumed to have crashed off the Indonesian coast with 162 people on board, the company said on Monday. "We can confirm that Allianz Global Corporate& Specialty UK is the lead reinsurer for AirAsia, for aviation hull and...

  • New York Life will also assume 60 percent of certain life insurance policies of Manulife's U.S. unit, John Hancock Financial, on a reinsurance basis, the Canadian company said. The combined business will have 2.5 million plan participants, Manulife said. Manulife and Britain's Standard Life agreed in September to a near- $4 billion deal for the Canadian...

  • Dec 23- Largest Canadian insurer Manulife Financial Corp's U.S. unit will buy New York Life Insurance Co's retirement services business for an undisclosed amount. New York Life will assume 60 percent of certain life insurance policies of Manulife's U.S. unit, John Hancock Financial, on a reinsurance basis, the Canadian company said. Manulife did not disclose...

  • *Allianz sells Fireman's Fund personal lines to ACE Ltd.. FRANKFURT, Dec 18- German insurer Allianz on Thursday said it had agreed to sell its Fireman's Fund personal insurance business to insurer ACE for $365 million, freeing Allianz to focus on building its U.S. property and casualty operations. The deal clears up one of two problem areas for Allianz in the...

  • HONG KONG, Dec 11- As insurance products denominated in Chinese yuan see rapid growth in Hong Kong, concerns over insurers' heavy reliance on mainland Chinese partners to invest premium income and generate returns are also rising. Policies issued in yuan accounted for 10.8 percent of new insurance business written in Hong Kong last year, and are expected be make...

  • *Western insurers fear further sanctions on Russia. LONDON/ MOSCOW, Nov 20- Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business they undertake is at risk from future measures and an increasingly sick economy. Existing sanctions, along with an oil...

  • UPDATE 1-Insurer James River Group files for IPO Friday, 7 Nov 2014 | 7:23 AM ET

    Nov 7- James River Group Holdings Ltd, a Bermuda- based insurance holding company, filed for an initial public offering of common shares that would raise up to $288 million. Hedge fund D.E. Shaw& Co LP's affiliates own 72.6 percent of the insurer's Class A common shares, while Goldman Sachs Group Inc owns 26.3 percent. Keefe Bruyette& Woods, UBS Investment Bank, FBR...

  • M&S and Brenntag surge as European shares bounce back Wednesday, 5 Nov 2014 | 12:44 PM ET

    *Marks& Spencer jumps after results. PARIS/ LONDON, Nov 5- European stocks rebounded on Wednesday, helped by positive company results including those from British retailer Marks& Spencer, whose shares surged nearly 10 percent higher. Marks& Spencer jumped 9.7 percent after posting a rise in underlying first-half profit for the first time in four years, beating...

  • Besides losses from the Malaysia Airlines jet downed over Ukraine and the destruction of planes at Tripoli airport, property and casualty insurers saw few big payouts while life insurers reported a healthy rise in sales. Two years ago, insurers paid about $30 billion in claims after Hurricane Sandy battered the United States while floods in central Europe...

  • *Marks& Spencer jumps 8.3 pct after results. British retailer Marks& Spencer surged 8.3 percent after posting a rise in underlying first-half profit for the first time in four years, beating expectations, while German chemicals distributor Brenntag gained 7.8 percent, boosted by forecast-beating earnings. About halfway into Europe's earnings season, 64...

  • WASHINGTON, Nov 3- MetLife has retained a top Washington lawyer in its bid to escape a plan by the U.S. financial risk council to subject it to far tougher rules, a sign the largest U.S. insurer may be preparing a legal challenge. A MetLife spokesman told Reuters the company had retained Eugene Scalia, a partner at law firm Gibson Dunn LLP, who has successfully fought...

  • Hedge funds muscle into reinsurance, attracting doubters Wednesday, 29 Oct 2014 | 8:59 AM ET

    LONDON, Oct 29- Hedge funds are muscling their way into the market to share the cost of cleaning up after natural catastrophes, but sceptics are questioning whether they will stick around ahead of the next "big one" as underwriting returns fall. John Rathgeber, CEO of Watford Re which opened its doors this year, said his group used leverage and invested in assets such...

  • LONDON, Oct 23- Global regulators have written the first global capital rule for insurers, marking a key milestone in efforts since the 2007-09 financial crisis to reinforce supervision of the sector. The International Association of Insurance Supervisors said on Thursday it had agreed a basic capital requirements ratio for the nine big insurance firms...