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Insurance Reinsurance

  • Damage to thousands of cars in dealership lots across Texas, Nebraska, Oklahoma and other states are just some of the weather-related losses that have been hitting U.S. property insurers particularly hard in the first half of this year. "It got everything on the car- roofs, sides, mirrors and back glasses," said Ronnie Cohen, new car director of Subaru of Plano,...

  • Damage to thousands of cars in dealership lots across Texas, Nebraska, Oklahoma and other states are just some of the weather-related losses that have been hitting U.S. property insurers particularly hard in the first half of this year. "It got everything on the car- roofs, sides, mirrors and back glasses," said Ronnie Cohen, new car director of Subaru of Plano,...

  • SAO PAULO/ BOGOTA, July 21- The busiest week for initial public offerings in Brazil in four years ended on Friday on an upbeat note for issuers, as a nascent economic recovery and the passage of key economic reforms helped to lure global investors. Brazilian stocks and its currency have outperformed Latin American peers in recent weeks as President Michel...

  • Grupo Carrefour Brasil SA priced Brazil's largest initial public offering in four years earlier this week, totaling 5.12 billion reais. Traders say demand is strong for an offering of Brazilian depositary receipts in Colombia- based pharmaceutical firm Grupo Biotoscana SA, with IPOs for renewable power firm Omega Geração SA and reinsurer IRB Brasil...

  • Pretax catastrophe losses, net of reinsurance, rose to $403 million in the second quarter, from $333 million a year earlier, mainly due to wind and hail storms in several regions in the United States. Underwriting gains slumped 54 percent to $112 million in the quarter ended June 30, the company said. Net income fell to $595 million, or $2.11 per share, in the quarter,...

  • *Flooding in Peru caused $3.1 bln in economic losses. FRANKFURT, July 18- Insurers paid out around $19.5 billion for natural disaster claims in the first half of 2017, almost 40 percent less than the year-earlier payout of $32 billion, reinsurer Munich Re said on Tuesday. The single costliest catastrophe was flooding in Peru in February and March, which caused...

  • OSLO, July 7- The insurer of London's Grenfell Tower, where at least 80 people died in a devastating fire, raised its estimate for property and liability insurance claims to 50 million pounds on Friday. Norway's Protector Forsikring the insurance provider for the Royal Borough of Kensington and Chelsea, which owns the building, also said it had been aware...

  • *AB Foods jumps as results impress. LONDON, July 6- Britain's top share index fell on Thursday as Reckitt Benckiser helped lead rate-sensitive consumer stocks lower, though a results-driven jump in AB Foods and gains among banks offered some support. Britain's blue-chip FTSE 100 index closed down 0.4 percent at 7,337.28 points among health and consumer...

  • ZURICH, July 6- Swiss Re is switching the entire $130 billion it holds in liquid assets to track ethical indices, the latest move towards principled investments by the insurance industry. "This is not only about doing good, we have done it because it makes economic sense," Swiss Re Chief Investment Officer Guido Fuerer told Reuters on Thursday.

  • *AB Foods jumps as results impress. LONDON, July 6- Attention focused on earnings on Thursday, with a 5 percent rise in AB Foods leading a steady FTSE 100 index which was supported by the retail and housebuilding sectors. AB Foods rose after reporting a better outlook thanks to an improved performance from budget clothing chain Primark, with Marks& Spencer...

  • LONDON, June 29- Global shipping is still feeling the effects of a cyber attack that hit A.P. Several port terminals run by a Maersk division, including in the United States, India, Spain, the Netherlands, were still struggling to revert to normal operations on Thursday after experiencing massive disruptions. Anil Diggikar, chairman of JNPT port, near the Indian...

  • LONDON, June 29- Global shipping is still feeling the effects of a cyber attack that hit A.P. Several port terminals run by a Maersk division, including in the United States, India, Spain, the Netherlands, were still struggling to revert to normal operations on Thursday after experiencing massive disruptions. Anil Diggikar, chairman of JNPT port, near the Indian...

  • *Aviva to sell about 1 bln pounds of debt, equity assets. Third-party funds to still hold tobacco assets. LONDON, June 20- Aviva, Britain's biggest life insurer, is selling about 1 billion pounds worth of bonds and shares it holds in tobacco companies, joining a global campaign to divest from the industry.

  • June 8- Two insurance units of Warren Buffett's Berkshire Hathaway Inc have agreed to lower their rates and provide more disclosures to settle claims that they overcharged small business owners in California for workers' compensation coverage. The settlement announced by California's Department of Insurance on Thursday resolves charges that Applied...

  • June 8- Two insurance units of Warren Buffett's Berkshire Hathaway Inc have agreed to lower their rates and provide more disclosures to settle claims that they overcharged small business owners in California for workers' compensation coverage. The settlement announced by California's Department of Insurance on Thursday resolves charges that Applied...

  • SAO PAULO, May 30- Financial markets are betting that the Brazilian government's pro-business economic agenda will move ahead even if President Michel Temer is ousted in a corruption scandal, top banking executives said on Tuesday. Temer must respond within 24 hours to federal police questions about allegations of his involvement in a sprawling political...

  • FRANKFURT, May 26- The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz's board said in an interview. The European market for cyber insurance currently has a premium volume of around 200 million euros, Axel Theis, Allianz board member responsible for global property and casualty insurance, told Reuters...

  • NEW YORK, May 15- American International Group Inc on Monday named an insurance industry veteran as its new chief executive officer, luring him from the firm he started with a lucrative financial package that includes buying a big piece of his company. In hiring Brian Duperreault, who is 70, AIG is giving into the demands of billionaire investor Carl Icahn, AIG's...

  • In hiring Brian Duperreault, who is 70, AIG is giving into the demands of billionaire investor Carl Icahn, AIG's fourth largest shareholder, who has been pushing for big changes at the insurance giant. AIG said it will pay as much as $40 million to free Duperreault from a noncompete agreement with Hamilton Insurance Group Ltd, the firm he founded and ran, in...

  • May 15- American International Group named Brian Duperreault as its new chief executive officer on Monday, selecting a protege of former CEO Hank Greenberg and an industry veteran known for his turnaround expertise. Duperreault, age 70, is the founder and chief executive officer of Hamilton Insurance Group Ltd in Bermuda, and is seen as a short-to-medium term...