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  • LONDON, April 19- Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign shipowners remain reluctant to carry its cargoes. Tehran is seeking to make up for lost trade to Europe following the lifting of EU sanctions imposed in 2011 and 2012, which deprived it of a market that accounted...

  • NEW YORK, April 13- Investing in Glacial Energy Holdings Inc should have been a disaster. By 2013, Texas utility regulators had fined Glacial $100,000 for overbilling customers and not disclosing that founder and Chief Executive Officer Gary Mole's previous energy venture had collapsed. Mole was forced to resign from the company's Texas subsidiary.

  • April 12- General Re, one of Berkshire Hathaway Inc's largest insurance units, said Chief Executive Officer Tad Montross is retiring, in a move that will expand the role of Ajit Jain, long viewed as a potential successor to Warren Buffett at Berkshire's helm. Montross, 60, will step down by year end, after serving as Gen Re's chairman and CEO since 2008, a spokeswoman...

  • *State refiners looking to buy 240,000 bpd total from Iran. Iran was India's second biggest oil supplier- a position now belonging to Iraq- before economic sanctions aimed at Iran's nuclear programme hampered its trade relations, forcing the South Asian nation to tap alternative suppliers. India's state refiners- Indian Oil Corp, Mangalore Refinery and...

  • LONDON, March 30- Insurance payouts from the chemical blasts at the Chinese port of Tianjin last year could total up to $3.5 billion, reinsurer Swiss Re said on Wednesday, in what would be the largest ever man-made loss in Asia. Reinsurance broker Guy Carpenter has also said insurance losses from Tianjin, which killed around 170 people and destroyed more than 300...

  • TOKYO, March 23- Oil prices fell in early Asian trading on Wednesday after figures from an industry group showed U.S. crude stockpiles rose last week more than expected, reinforcing concerns that supply continues to exceed demand. The front-month contract in U.S. crude futures was down 40 cents at $41.05 a barrel by 0328 GMT. Brent crude was 39 cents lower at $41.40,...

  • International oil and shipping companies have been eager to boost business with Iran since international sanctions related to its nuclear program were lifted in January, but securing proper insurance cover has been among the stumbling blocks in recent weeks. The insurers' move will benefit Iran as it seeks to further ramp up production and exports.

  • MUNICH, March 16- German reinsurer Munich Re is boosting its gold and cash reserves in the face of the punishing negative interest rates from the European Central Bank, it said on Wednesday. Munich Re has held gold in its coffers for some time and recently added a cash sum in in the two-digit million euros, Chief Executive Nikolaus von Bomhard told a news conference.

  • *Gains in Italy, Spain banks help sector outperform. MILAN/ LONDON, March 10- European shares fell on Thursday after the European Central Bank President Mario Draghi said more rate cuts were unlikely, but bank shares outperformed on plans for a new round of cheap funding. Anthilia Capital fund manager Giuseppe Sersale said Draghi's remarks caught investors who...

  • MILAN/ LONDON, March 10- European shares turned lower on Thursday after the European Central Bank President Mario Draghi said more rate cuts were unlikely, but bank shares rose on plans for a new round of cheap funding. Giuseppe Sersale, fund manager at Anthilia Capital, said Draghi's remarks that more rate cuts were unlikely caught investors who were heavily...

  • *Expands QE to 80 bln euros per month. FRANKFURT, March 10- The European Central Bank unleashed some of it last remaining stimulus weapons on Thursday, cutting all three of its interest rates and expanding asset-buying to boost the economy and prevent ultra-low inflation becoming entrenched. In moves that briefly pushed the euro 1 percent down against the...

  • *Dividend of 4.75 euros per share for 2015. HANOVER, Germany, March 10- German reinsurer Hannover Re will focus on boosting earnings rather than premiums this year and may pay out more special dividends to shareholders, Chief Executive Ulrich Wallin said on Thursday. The world's third largest reinsurer posted record 2015 net profit of 1.15 billion euros and...

  • *Expands QE to 80 bln euros per month. FRANKFURT, March 10- The European Central Bank delved deep into its remaining arsenal of stimulus options on Thursday, cutting all three of its interest rates and expanding asset-buying to boost the economy and prevent ultra-low inflation becoming entrenched. In moves that initially pushed the euro 1 percent down against...

  • *Banks top gainers led by Italy's UniCredit. MILAN/ LONDON, March 10- European shares rose sharply on Thursday, extending earlier gains after the European Central Bank unveiled more stimulus in a bid to boost growth and inflation in the region. "The weak euro is positive for equities," said Hantec Markets' analyst Richard Perry.

  • LONDON, March 10- European shares were steady on Thursday, helped by gains in insurers such as Aviva and Hannover Re, while expectations of more stimulus measures from the European Central Bank also supported equities. The euro zone's central bank is widely expected to cut its deposit rate deeper into negative territory and adjust its 1.5 trillion euro...

  • Feb 19- Standard& Poor's on Friday left intact its "AA" credit ratings for Warren Buffett's Berkshire Hathaway Inc, saying the company's diversification and "modest" financial risk justify the high grade. Berkshire had been put on review on Aug. 11 for a possible downgrade on concern about Buffett's decision to deploy a large amount of cash toward the $32 billion...

  • *Energy firms cutting back projects that need insuring. LONDON, Feb 10- The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Hannover Re's chief executive Ulrich Wallin used some understatement in...

  • AIG too big to succeed: Analyst

    Sanford C. Bernstein analyst Josh Stirling explains why he thinks AIG is "ungovernable."

  • LONDON, Jan 25- Massive blizzards that paralyzed much of the U.S. East Coast in the past few days are likely to cause "multi-billion" dollar economic losses in one of the worst storms in the region in over a century, reinsurance broker Aon Benfield said on Monday. "Given the physical damage to homes, businesses and other structures and automobiles, plus the high costs...

  • SYDNEY/ LONDON, Jan 24- Global insurance firms are circling Iran for business opportunities following the lifting of sanctions- and the first test of their appetite could come in March when some Iranian companies seek new cover. Insurers, the reinsurers that share their risk and the brokers that forge deals are exploring ways to tap a market worth $7.4 billion in...