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  • AIG too big to succeed: Analyst Monday, 25 Jan 2016 | 10:51 AM ET
    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...

  • Global insurers plot cautious course to Iran Sunday, 24 Jan 2016 | 3:00 AM ET

    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...

  • Travelers, the first big U.S. insurer to report quarterly results, said on Thursday that its underwriting gains fell 10.7 percent to $773 million in the fourth quarter. Net investment income declined 15.1 percent to $541 million. Travelers' pretax catastrophe losses, net of reinsurance, rose to $46 million from $41 million.

  • LONDON, Jan 19- Foreign oil tanker owners are expected to make a slow return to Iran despite the lifting of many sanctions as insurers tread carefully, leaving shipping players unwilling to pick up cargoes as quickly as Tehran has wanted. A nuclear deal between world powers- known as the P5 +1- and Iran led to the removal on Saturday of international oil export...

  • FACTBOX-Lifting sanctions on Iran - how it will work Saturday, 16 Jan 2016 | 5:33 PM ET

    UNITED NATIONS, Jan 16- The United Nations' nuclear watchdog confirmed on Saturday that Iran had curbed its nuclear programme as agreed with world powers, paving the way for most international sanctions against Tehran to be lifted. The July 14 nuclear deal aims, for the next decade, to extend the amount of time it would theoretically take Iran to produce enough...

  • *Tianjin caused estimated insured losses of up to $3.3 bln. LONDON/ FRANKFURT, Jan 7- Reinsurance rates in the marine sector continued to fall at the start of the year, in spite of the huge cost of explosions at China's Tianjin port last August, reinsurance broker Guy Carpenter said on Thursday. The blasts at Tianjin caused insured losses of up to $3.3 billion, Guy...

  • "The continued scarcity of costly catastrophe losses and more than adequate capacity led to reinsurance pricing reductions, although there are signs the rate of descent is slowing as compared to 2015," reinsurance broker Guy Carpenter said on Wednesday. Both Guy Carpenter and peer broker Aon Benfield said the amount of capital available to write...

  • LONDON, Jan 6- Extreme weather in the United States during the last 10 days of December could bring insured losses for the month to more than $2 billion, reinsurance broker Aon Benfield said on Wednesday. At least 64 people were killed in the United States as a result of tornadoes, flooding, snowfall, hail and winds during that period, Aon Benfield said in its monthly...

  • FRANKFURT, Jan 4- Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich Re showed on Monday. Munich Re said floods in the UK and Scandinavia from storm "Desmond" early last month may cause about 700 million euros in...

  • FRANKFURT, Jan 4- Insurance claims from natural disasters such as storms and earthquakes fell to $27 billion in 2015 as the overall cost of natural catastrophes dropped to its lowest level since 2009, reinsurer Munich Re said on Monday. Insurance claims totalled $31 billion in 2014 and were also below the 10- year average of $56 billion, Munich Re said.

  • LONDON, Dec 22- The return of banks into the European infrastructure market is denting insurers' ability to enhance their investment returns by funding the roads, bridges and wind farms of tomorrow. But their search has been made harder by renewed competition from banks vying for a bigger slice of Europe's infrastructure pie, that is pushing down rates of return.

  • ZURICH, Dec 18- Catastrophes in 2015 proved more deadly than the previous year, although the total cost to the insurance industry is likely to be 8.6 percent lower at $32 billion, reinsurance specialist Swiss Re said in its annual "sigma" report on expected global insured losses, which was released on Friday. Meanwhile record temperatures saw over 5,000 deaths...

  • *China lifts caps for issuers of bonds rated AA and above. Beijing seeking to cut red tape in bond market. HONG KONG/ SHANGHAI, Dec 2- China's top economic planning agency has removed limits on the number of onshore bonds local companies can issue per year as part of wider moves to cut red tape in the country's corporate bond market.

  • HONG KONG/ SHANGHAI, Dec 2- China's top economic planning agency has removed limits on the number of onshore bonds local companies can issue per year as part of wider moves to cut red tape in the country's corporate bond market. The National Development and Reform Commission's new streamlined regulations announced Wednesday will apply to issuers of corporate...

  • Terrorism reinsurance fund to help Parisian businesses Tuesday, 24 Nov 2015 | 7:23 AM ET

    *Paris businesses likely to make successful insurance claims. PARIS/ LONDON, Nov 24- Parisian businesses struggling after the Nov. 13 attacks are likely to be able to make successful insurance claims, helped by a state-backed fund set up in the wake of the Sept. 11 2001 attacks in New York. The carnage in Paris could spur demand for insurance against terrorism, as...

  • SAO PAULO, Nov 23- One of the shareholders seeking to offload a stake in Brazilian reinsurer IRB Brasil RE SA has asked the country's securities industry watchdog for a 60- day delay in analyzing an initial public offering plan, with market turmoil in Latin America's largest economy intensifying in recent weeks. In a securities filing, Itaú Unibanco Holding SA,...

  • Trade Representative announced plans on Friday to negotiate a covered agreement on insurance with the European Union, a move it said will "level the regulatory playing field for U.S-based insurers and reinsurers." Insurers and regulators from the European Union have long expressed frustration at U.S. reinsurance collateral requirements- they not only must...

  • LONDON/ NEW YORK, Nov 18- Warren Buffett's favoured banker, Byron Trott, is planning to expand his investment and financial advisory firm BDT Capital Partners in Europe with a London office to attract billionaire clients, sources familiar with the matter told Reuters. Trott, who works with wealthy families in Europe such as Italy's Agnelli family, plans to submit...

  • Nov 16- Warren Buffett's Berkshire Hathaway Inc on Monday said it reduced its stake in Goldman Sachs Group Inc by 13 percent during the third quarter, paring a successful investment it made during the height of the global financial crisis. In a U.S. Securities and Exchange Commission filing, Berkshire said it owned 10.96 million Goldman shares worth about $1.9...