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...» Read More
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...
*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...
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...
In a low-rate environment it's hard for our clients to save money through us and have enough income, says Steve Miller, AIG non-executive chairman, discussing how low interest rates are impacting his business.
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.
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.
Hurricane Irene was the 'Perfect Storm' for insurers in a different sense of the cliche. The weakened storm that spared New York city from major damage gave the wealthy and rarely hit Northeast enough of a scare because of ominous weather forecasts leading up the storm that property insurers will be able to raise pricing even more next year, according to a Morgan Stanley analyst.