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Reinsurance

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  • Canada's Fairfax to buy Brit Plc for about $1.88 bln Monday, 16 Feb 2015 | 9:53 PM ET

    Feb 16- Canada's Fairfax Financial Holdings Ltd said it would buy Brit Plc, a specialty insurer and reinsurer, for about $1.88 billion to have a significant presence at Lloyd's of London. Brit shareholders will receive 305 pence in cash per share, including any final dividend for the year ended Dec. 31. Fairfax Financial said it has received hard irrevocable...

  • NEW YORK, Feb 3- Reinsurer Willis Re on Tuesday launched a tool designed to help insurance companies gauge their portfolios' exposure to cybersecurity risks, the latest effort to develop a growing market that has nonetheless faced worries about potential pitfalls. "There's still a little bit of hesitation about,' how do I understand what my overall exposure...

  • 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...

  • 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.

  • Swiss Re: Results Due to No Large Losses Thursday, 2 May 2013 | 3:45 AM ET
    Swiss Re: Results Due to No Large Losses

    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.

  • Swiss Re Chief: Govs Must Manage Risk Better Thursday, 24 Jan 2013 | 11:30 AM ET
    Swiss Re Chief: Govs Must Manage Risk Better

    Michel Lies, CEO of reinsurer Swiss Re says authorities in both developed and developing countries still have considerable risk management work to do.

  • Does Asia Need Its Own Version of 'Obamacare'? Tuesday, 20 Nov 2012 | 7:10 PM ET
    Does Asia Need Its Own Version of 'Obamacare'?

    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.

  • corn_field_dry_200.jpg

    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.

  • Church Street Marketplace. Burlington, VT

    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.