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Insurance Reinsurance

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  • LONDON, July 30- Specialist insurance market Lloyd's of London said on Thursday it planned to apply for an onshore reinsurance license and open an office in Malaysia, as part of its push into emerging markets. In Asia, Lloyd's already has an office in Singapore and it opened an office in Dubai earlier this year. Nelson said around $130 million in business was...

  • Q2 was a 'modest miss': Swiss Re CFO Thursday, 30 Jul 2015 | 3:30 AM ET
     Q2 was a 'modest miss': Swiss Re CFO

    David Cole, CFO of Swiss Re, plays down the comapny's second-quarter earnings, which missed expectations.

  • July 29- PartnerRe Ltd, the reinsurance company that has a $6.6 billion merger agreement with Axis Capital Holdings, is now willing to negotiate a new deal with rival suitor Exor SpA, according to people familiar with the matter. This would be the first time that Bermuda- based PartnerRe negotiates a potential merger with Exor since the Italian investment...

  • Blue Capital beats 2Q profit forecasts Monday, 27 Jul 2015 | 5:39 PM ET

    PEMBROKE, Bermuda _ Blue Capital Reinsurance Holdings Ltd. on Monday reported second-quarter net income of $5.5 million. The Pembroke, Bermuda- based company said it had profit of 63 cents per share. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

  • PartnerRe reports 2Q loss Monday, 27 Jul 2015 | 5:09 PM ET

    PEMBROKE, Bermuda _ PartnerRe Ltd. on Monday reported a second-quarter loss of $88.9 million, after reporting a profit in the same period a year earlier. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share. PartnerRe shares have risen 18 percent since the beginning of the year.

  • *Most insurers in Reuters survey say Iran attractive market. LONDON/ SYDNEY, July 26- Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty over when sanctions on Tehran will be lifted means they are treating the country with caution. Under the accord reached...

  • July 24- Shareholder advisory group Institutional Shareholder Services said it had "significant concerns" about a proposed takeover of PartnerRe Ltd by Axis Capital Holdings Ltd and recommended that PartnerRe's shareholders vote against the deal. ISS said a competing offer by Italian holding company Exor SpA was "more prudent" as it had the certainty of...

  • Reinsurance Group misses 2Q profit forecasts Thursday, 23 Jul 2015 | 6:16 PM ET

    CHESTERFIELD, Mo. _ Reinsurance Group of America Inc. on Thursday reported second-quarter net income of $130.4 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.18 per share. Reinsurance Group shares have increased 12 percent since the beginning of the year.

  • July 21- Property and casualty insurer Travelers Cos Inc reported a stronger-than-expected quarterly operating profit as catastrophe losses halved and underwriting gains doubled. In the industry's biggest deal, Swiss insurer ACE Ltd said this month it would buy Travelers' arch rival Chubb Corp for $28.3 billion. "We already compete against these two...

  • Travelers profit boosted by lower catastrophe losses Tuesday, 21 Jul 2015 | 9:04 AM ET
    Travelers

    Travelers reported a stronger-than-expected profit as catastrophe losses almost halved and it recorded a gain from the resolution of tax issues.

  • July 21- Property and casualty insurer Travelers Cos Inc reported a stronger-than-expected quarterly net profit as catastrophe losses almost halved and the company recorded a gain from the resolution of tax issues. The company, which vies with American International Group Inc for the title of biggest U.S. commercial property and casualty insurer, said it...

  • UPDATE 2-Exor sweetens PartnerRe offer again Monday, 20 Jul 2015 | 6:51 PM ET

    MILAN, July 20- Italian holding company Exor has again sweetened its offer for U.S.-listed reinsurer PartnerRe to include a special dividend of $3 per share for common shareholders if it is chosen over rival suitor Axis Capital Holdings. The dividend, which would be paid by PartnerRe before closing of the deal with Exor, lifts the overall value of Exor's bid to...

  • UPDATE 1-Exor sweetens PartnerRe offer again Monday, 20 Jul 2015 | 11:21 AM ET

    MILAN, July 20- Italian holding company Exor has again sweetened its offer for U.S.-listed reinsurer PartnerRe to include a special dividend of $3 per share for common shareholders if it is chosen over rival suitor Axis Capital Holdings. The dividend, which would be paid by PartnerRe before closing of the deal with Exor, lifts the overall value of Exor's bid to...

  • July 17- The tussle between Axis Capital Holdings Ltd and Exor SpA for control of Bermuda- based reinsurer PartnerRe Ltd could be drawing to a close after a bidding war that began four months ago. Axis and PartnerRe improved the terms of their deal yet again on Thursday, in an attempt to win over skeptical investors that have openly supported Exor SpA's all-cash...

  • NEW YORK, July 17- Japanese insurers including MS&AD Insurance Group Holdings Inc and Sompo Japan Nipponkoa Insurance Inc are seeking mergers with peers in the United States, as a declining population at home forces them to pursue markets that are growing overseas. Property and casualty insurers are particularly hungry for non-domestic acquisitions...

  • July 16- Specialty insurer and reinsurer Axis Capital Holdings Ltd and PartnerRe Ltd agreed to sweeten the terms of their merger agreement to fend off a rival bid from Italy's Exor SpA. The companies agreed on Thursday to raise the special dividend component to $17.50 per share from $11.50, and match Exor's exchange offer for PartnerRe's preferred...

  • July 16- Reinsurer Axis Capital Holdings Ltd sweetened its offer for rival PartnerRe Ltd as it looks to fend off a competing bid from Italy's Exor SpA. The companies said on Thursday that Axis would raise the special dividend component of the offer to $17.50 per share from $11.50 and match Exor's exchange offer for PartnerRe's preferred shareholders.

  • Axis Capital raises special dividend in PartnerRe offer Thursday, 16 Jul 2015 | 8:23 AM ET

    July 16- Reinsurer Axis Capital Holdings Ltd said it was raising the special dividend component of its offer for PartnerRe Ltd as it looks to fend off a rival offer from Exor SpA. Reuters reported last week that Axis Capital Holdings and PartnerRe were considering tweaking their $6.2 billion merger agreement. Exor SPA could not be immediately reached for...

  • Deaths from global disasters rising in 2015 - insurer Tuesday, 14 Jul 2015 | 7:06 AM ET

    FRANKFURT, July 14- The death toll from natural disasters such as earthquakes, storms and heatwaves rose sharply worldwide in the first six months of 2015, the world's largest reinsurance company Munich Re said on Tuesday. However, the economic cost of such events dropped to $35 billion from $42 billion, Munich Re said in a biannual review, reflecting the fact...

  • July 8- Reinsurers Axis Capital Holdings Ltd and PartnerRe Ltd are considering tweaking their $6.2 billion merger agreement in a bid to fend off a $6.8 billion offer for PartnerRe by Exor SpA, people familiar with the matter said. This relatively small amount of money could still make a difference, however, because PartnerRe's preferred shareholders control...