*Q2 oper earnings $1.93/ shr vs. est $2.07/ shr. July 22- Property and casualty insurer Travelers Cos Inc's quarterly earnings fell short of analysts' estimates as hail and wind storms in the United States increased catastrophe losses.» Read More
Reinsurers have been negotiating with insurance company clients in the United States, Australia and Latin America to set the terms and prices for shouldering big risks like hurricane and earthquake damage in contracts that take effect from July 1.
Franklin Lakes, New Jersey- based Western World offers auto and property insurance and, within Validus, it will operate as an independent business led by its current management team. Validus provides reinsurance and insurance services and operates through its three Bermuda- based units- Reinsurance Ltd, Talbot Holdings Ltd and AlphaCat Managers Ltd..
June 23- Reinsurer Validus Holdings Ltd said it would buy specialty insurer Western World Insurance Group Inc for about $690 million in cash.
NEW YORK, May 28- A New York state judge has rejected a request by Maurice "Hank" Greenberg, the former American International Group Inc chief executive officer, to dismiss a long-running civil lawsuit by the state's attorney general.
TURIN, Italy, May 22- Italian investment company Exor, the listed holding company for Fiat's founding family the Agnellis, plans to spend a total of at least 2 billion euros on two new investments, most likely in the services sector, Chairman and CEO John Elkann said on Thursday.
Roland Vogel, CFO of Hannover Re, says the company likes higher interest rates and can react to moves in the rate.
Jorg Schneider, CFO at Munich Re, says the group is overall not concerned by the strong euro and discusses the group's investment strategy to make returns in the current low-yield environment.
FRANKFURT, May 8- The world's largest reinsurer, Munich Re, reported an almost 5 percent drop in net profit in the first quarter, as a strong euro dragged down premium income.
ZURICH/ FRANKFURT May 7- Swiss Re and Hannover Re, the world's no. 2 and 3 reinsurers, said they saw lower prices in natural disaster reinsurance and April renewals, as they beat profit expectations in the first quarter. "We are not slaves to volume, and we will certainly not write business to fulfill some top line aspirations," said Swiss Re Chief Executive Michel Lies.
ZURICH, May 7- Swiss Re, the world's second-largest reinsurer, said first-quarter net profit fell 13 percent on weaker earnings in its life and health arm, although fewer natural catastrophes meant the fall was less than expected.
OMAHA, Neb., May 2- Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly profit declined 4 percent, falling short of analyst forecasts, as earnings from insurance underwriting declined and bad weather disrupted shipping at its BNSF Railway unit.
OMAHA, Neb., May 2- Warren Buffett's Berkshire Hathaway Inc on Friday said quarterly profit declined 4 percent, falling short of analyst forecasts, as earnings from insurance underwriting declined and bad weather hurt results at its BNSF Railway unit.
*Competition intense, Munich Re faring better than market. MUNICH, April 30- Munich Re's net profit fell in the first quarter, its chief executive on Wednesday, hit by low capital market interest rates that continue to weigh on investment income at the world's largest reinsurer.
WASHINGTON, April 25- A U.S. Senate bill on housing finance reform could undermine the stability of the mortgage market if it became law in its current form, the head of government-run mortgage financier Freddie Mac warned the company's regulator.
April 22- U.S. property and casualty insurer Travelers Cos Inc reported a 17 percent rise in first-quarter profit, helped by higher underwriting gains and an increase in net investment income. Net income rose to $1.05 billion, or $2.95 per share, for the quarter ended March 31, from $896 million, or $2.33 per share, a year earlier.
LONDON, April 8- Energy companies have no insurance against major cyber attacks, reinsurance broker Willis said on Tuesday, likening the threat to a "time bomb" that could cost the industry billions of dollars.
SANTIAGO, April 2- Chilean authorities on Wednesday were assessing the damage from a massive earthquake that struck off the northern coast, causing a small tsunami, but the impact was mostly limited, according to early indications.
FRANKFURT, April 1- A downward slide in reinsurance prices showed clear signs of accelerating in April contract renewals and is likely to feed through to property and casualty insurance prices before long, broker Willis said on Tuesday.
SINGAPORE/ KUALA LUMPUR, March 26- Even before the loss of its Flight MH370, Malaysian Airline System was bleeding cash, prompting talk that it may need another financial rescue from state investor Khazanah Nasional Bhd, its majority shareholder.
TORONTO, March 21- The Canada Pension Plan Investment Board has agreed to buy U.S. life insurance and reinsurance provider Wilton Re Holdings Ltd for $1.8 billion from a group of private equity firms, the first foray by the global dealmaker into the U.S. insurance business.