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  • NEW YORK, Jan 29- With a scheduled trial just four weeks away, the former chairman of American International Group Inc said New York's attorney general should abandon his nearly decade-old fraud case against him, calling it a waste of taxpayer dollars in pursuit of a hollow "trophy" victory. The non-jury trial, scheduled for Feb. 24 in Manhattan before State Supreme...

  • Two mega reinsurers to merge in $11B deal Monday, 26 Jan 2015 | 6:42 AM ET

    Axis Capital Holdings Ltd and PartnerRe have agreed to an $11 billion merger to create one of the world's largest reinsurers.

  • 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...

  • 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...

  • Low rate world 'fool's paradise': Expert   Friday, 11 Jul 2014 | 7:20 AM ET
    Low rate world 'fool's paradise': Expert

    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.

  • We can react to interest rate moves: Hannover Re CFO   Wednesday, 14 May 2014 | 2:40 AM ET
    We can react to interest rate moves: Hannover Re CFO

    Roland Vogel, CFO of Hannover Re, says the company likes higher interest rates and can react to moves in the rate.

  • Munich Re 'not concerned' by strong euro: CFO   Thursday, 8 May 2014 | 5:00 AM ET
    Munich Re 'not concerned' by strong euro: CFO

    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.

  • Buffett: Climate change has had no effect on insurance market

    Billionaire Warren Buffett told CNBC on Monday that he does not see climate change impacting insurance prices "three years or five years from now."

  • Munich Re's capital position 'comfortable': CFO   Thursday, 7 Nov 2013 | 5:00 AM ET
    Munich Re's capital position 'comfortable': CFO

    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 to shutter London office in downsizing move Tuesday, 22 Oct 2013 | 2:45 PM ET
    Steven A. Cohen

    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.

  • European Reinsurance Sector Doing Well: Pro   Tuesday, 7 May 2013 | 5:20 AM ET
    European Reinsurance Sector Doing Well: Pro

    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.