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  • April 21- Property and casualty insurer Travelers Cos Inc reported a 21 percent fall in quarterly net profit due to lower net investment income and a drop in underwriting gains. The company said net income fell to $833 million, or $2.55 per share, for the first quarter ended March 31, from $1.05 billion, or $2.95 per share, a year earlier. Pretax net investment income...

  • NEW YORK, April 16- A New York state appeals court rejected former American International Group Inc Chairman Maurice "Hank" Greenberg's bid to dismiss a lawsuit accusing him of orchestrating an accounting fraud at the insurer he ran for nearly four decades. Greenberg and co-defendant Howard Smith, a former AIG chief financial officer, are accused of having...

  • April 16- PartnerRe Ltd's second-biggest shareholder said Exor SpA's offer for the Bermuda- based reinsurer was "much superior" to a deal with Axis Capital Holdings Ltd that was already on the table. Exor is offering $130 per PartnerRe share, or a 16 percent premium to the implied value under the Axis agreement. Langerman said PartnerRe should engage not only Exor...

  • *Exor offering $130 per PartnerRe share. *PartnerRe says to review Exor proposal. MILAN, April 14- Italian holding company Exor, which controls carmaker Fiat Chrysler Automobiles, offered $6.4 billion in cash to buy Bermuda- based reinsurer PartnerRe, trumping an all-share deal with Axis Capital Holdings Ltd..

  • *Exor offering $130 per PartnerRe share. MILAN, April 14- Italian holding company Exor, which controls carmaker Fiat Chrysler Automobiles, offered $6.4 billion in cash to buy U.S. reinsurer PartnerRe, trumping an earlier all-share deal with Axis Capital Holdings Ltd.. Exor, controlled by the Agnelli family, said in a statement on Tuesday it was offering $130 per...

  • MILAN, April 14- Italian holding company Exor, which controls carmaker Fiat Chrysler Automobiles, said it had offered $6.4 billion in cash to buy U.S. reinsurer PartnerRe, trumping an earlier all-share deal with Axis. Exor, controlled by the Agnelli family, said in a statement on Tuesday it was offering $130 per PartnerRe share in what it said would be a friendly...

  • MILAN, April 13- The head of Italian holding company Exor, which controls carmaker Fiat Chrysler Automobiles, said on Monday he expected to see more consolidation in the auto sector. "I'm convinced that the industry needs and will see more consolidation in the future," John Elkann said in a letter to Exor shareholders. Besides Fiat, Exor also has stakes in tractor and...

  • Citigroup planning to sell Prime Re - Bloomberg Wednesday, 1 Apr 2015 | 1:35 PM ET

    April 1- Citigroup Inc is planning to sell Prime Reinsurance Co, a unit created five years ago when the bank spun off its life insurance business, Primerica Inc, Bloomberg reported. The unit, referred to as Prime Re, could draw interest from Reinsurance Group of America Inc, Resolution Re and other companies that buy blocks of complex insurance contracts, Bloomberg...

  • *Charter to buy Bright House for about $10 bln. NEW YORK, March 31- U.S. stocks ended down on Tuesday in a retreat from the previous session's sharp rally as energy shares declined and the dollar edged up, but the S&P 500 and Nasdaq registered their ninth straight quarterly rise. The S&P Energy index declined 0.9 percent, while shares of Exxon Mobil Corp fell 0.7...

  • NEW YORK, March 31- U.S. stock fell on Tuesday in a modest retreat from the previous session's sharp rally, though major indexes remained on track for a positive first quarter and the S&P 500 was set for its ninth straight quarterly rise. Energy shares will be in focus as crude oil fell 1.4 percent to $48 per barrel, sending the S&P Energy index down 1 percent and Exxon...

  • *Charter to buy Bright Hose for about $10 bln. NEW YORK, March 31- U.S. stock were poised to open lower on Tuesday, indicating a modest retreat from the previous session's rally, though the S&P 500 remained on track for its ninth straight quarterly rise. Energy shares will continue to be in focus as crude oil fell 1.3 percent to $47.58 per barrel, sending Exxon Mobil Corp...

  • FRANKFURT, March 30- Germany's Allianz has estimated insurers will pay $300 million in claims and costs stemming from the crash of a Germanwings plane in the French Alps last week, insurance industry sources said on Monday. The initial estimate represents about 20 percent of the $1.5 billion in premiums in the global market for airline insurance.

  • NEW YORK, March 23- IRB Brasil RE plans to grow more aggressively in Latin America and Africa as part of an expansion that may require Brazil's largest reinsurer to seek an initial public offering or tap an outside partner before 2018, Chief Executive Officer Leonardo Paix√£o said on Monday. In Brazil, infrastructure projects from factories to shipbuilding...

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further on Tuesday from a seven-year high after sharply weaker oil and metals prices pulled down commodities stocks, although Credit Suisse rallied after naming a new chief executive. "Credit Suisse has had different issues throughout the years and someone with a diverse...

  • CHICAGO, March 10- Government support for U.S. grain farmers under the new five-year farm bill will peak with the coming 2015 crop, the Food and Agricultural Policy Research Institute said in a new report. The think tank estimated that $3.9 billion in ARC and PLC payments for last year's 2014 crop would be made after fiscal 2016 begins on Oct. 1.

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further away from a recent seven-year high on Tuesday as a sharp decline in crude oil and metals prices hit commodities stocks, although a rally in Credit Suisse capped market losses. "Credit Suisse has had different issues throughout the years and someone with a diverse...

  • *Credit Suisse surges after naming new CEO. LONDON, March 10- European shares slipped further away from a recent seven-year high on Tuesday as weaker oil and metals prices hit commodities stocks, but a rally in Credit Suisse limited market losses. "Credit Suisse has had different issues throughout the years and someone with a diverse background could look at its...

  • NEW YORK, March 1- Warren Buffett, at a news conference in Bengaluru in 2011, lavishly praised Berkshire Hathaway executive Ajit Jain for smoothly running much of the conglomerate's insurance businesses. Buffett, the billionaire chief executive officer and chairman of Berkshire, said he would also support Jain if ever he decided to seek Buffett's post.

  • NEW YORK/ FRANKFURT, Feb 20- Warren Buffett's Berkshire Hathaway Inc said on Friday it had agreed to buy German motorcycle apparel and accessories retailer Detlev Louis Motorrad-Vertriebs GmbH for a little more than 400 million euros. The purchase enables Buffett, known for his optimism about the United States and the investment opportunities it offers, to...

  • Feb 16- Fairfax Financial Holdings Ltd, a Canadian property and casualty insurer, said it would buy Brit Plc, a specialty insurer and reinsurer, for about $1.88 billion to gain a significant presence in the Lloyd's of London market. Investor Prem Watsa- led Fairfax said it has received hard irrevocable undertakings to accept the offer from entities managed by...