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...» Read More
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.
Billionaire Warren Buffett told CNBC on Monday that he does not see climate change impacting insurance prices "three years or five years from now."
Joerg Schneider, CFO at Munich Re, says the group is resuming its share buyback program because it's in a "very comfortable capital position."
SAC Capital Advisors will shut down its London office by the end of the year as the hedge fund downsizes, according to a memo sent to staff on Tuesday.
Tom Carstairs, analyst at Berenberg, highlights that results from European re-insurers have been quite strong and explains why he expects pricing pressure to impact the sector in Q3.
George Quinn, CFO of Swiss Re, tells CNBC that their strong result was down to unusual circumstances of no large losses at all combined with a strong underlying profit from the team.
Michel Lies, CEO of reinsurer Swiss Re says authorities in both developed and developing countries still have considerable risk management work to do.
Paul Murray, MD of Life & Health Products at Swiss Re thinks longer life spans in Asia will drive up health care costs, which presents a big opportunity for both governments & the health insurance sector.
The recent dry weather affecting crops across the midwest of America will hit the reinsurance industry with perhaps the biggest loss ever, according to Nikolaus von Bomhard, Chairman at Munich Re.
Smaller businesses that want to cut the costs of health insurance for their employees are using captive insurers to save money on premiums but also to reduce income taxes and transfer money to heirs free of estate tax.
The management of UK-based Prudential has made no decision on whether to relocate outside of the European Union but is watching with apprehension Brussels' plans to introduce new regulation for insurers, CEO Tidjane Thiam told CNBC.