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Insurance Reinsurance

  • Nov 2- American International Group Inc swung to a quarterly loss as the property and casualty insurer booked huge catastrophe losses, and said it set aside $836 million to meet losses related to prior-year accident claims. Hefty losses that surface from prior-year claims have been an ongoing issue for the New York- based insurer, which is the largest U.S....

  • ZURICH, Nov 2- A rise in insurance premiums, especially in areas affected by recent hurricanes and disasters, will help Swiss Re recover from almost half a billion dollars of losses in the first nine months of this year, it said on Thursday. Swiss Re did not release figures for the third quarter- for which it estimated claims from hurricanes Harvey, Irma and Maria in...

  • The property and casualty insurer, which writes policies for heavy-duty assets such as oil rigs, ships and aircraft, reported a pretax loss of $136.4 million for the quarter ended Sept. 30, compared with a pretax profit of $42.9 million a year earlier. Lancashire recorded a net loss from hurricanes Harvey, Irma and Maria, and earthquakes in Mexico, of $165 million,...

  • The property and casualty insurer, which writes policies for heavy-duty assets such as oil rigs, ships and aircraft, reported a pretax loss of $136.4 million for the quarter ended Sept. 30, compared with a pretax profit of $42.9 million a year earlier. Lancashire recorded a net loss from hurricanes Harvey, Irma and Maria, and Mexican earthquakes, of $165 million,...

  • ZURICH, Nov 2- Swiss Re, the world's second-largest reinsurer, on Thursday posted a $468 million nine-month net loss after disasters such as Hurricanes Harvey, Irma and Maria and Australia's Cyclone Debbie socked the reinsurer with an expected $4 billion in natural catastrophe claims. The Zurich- based group joined a chorus of insurers and reinsurers looking...

  • Earthquakes in Mexico could cost billions more. "Having the chance of rate increases is quite attractive," said Mark Stoeckle, senior portfolio manager of Baltimore- based Adams Funds, which owns shares of Chubb Ltd, set to report earnings later on Thursday. "The largest focus is on the pricing outlook," said Wells Fargo Securities analyst Elyse Greenspan.

  • Oct 25- State-run General Insurance Corp of India slumped as much as 14.5 percent on market debut on Wednesday after raising 111.76 billion rupees in the country's biggest initial public offering in seven years. Concerns about valuations have marred the debuts for some of recent insurance IPOs in India, including ICICI Lombard General Insurance, which fell...

  • *Q3 marked by three hurricanes in U.S., two earthquakes in Mexico. ZURICH, Oct 20- Swiss Re, the world's second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third quarter. Of its claims burden, which is net of retrocession and before tax,...

  • Top 10 IPOs in India: http://reut.rs/2xBgqso. MUMBAI, Oct 13- The Indian government raised about 98 billion rupees on Friday by selling some of its shares in General Insurance Corp of India, the nation's top reinsurer, in the country's biggest listing in seven years. GIC Re, which had a 60 percent share in India's reinsurance market according to Crisil Research, is...

  • *Top 10 IPOs in India: http://reut.rs/2xBgqso. MUMBAI, Oct 13- The Indian government raised 113.7 billion rupees on Friday by selling some of its shares in General Insurance Corp of India, the nation's top reinsurer, in the country's biggest listing in seven years. GIC Re, which had a 60 percent share in India's reinsurance market according to Crisil Research, is...

  • Oct 9- American International Group Inc said on Monday it expected to book pre-tax catastrophe losses of about $3 billion in the third quarter mainly related to hurricanes Harvey, Irma and Maria. The company estimated pre-tax losses of about $1 billion each from Harvey and Irma, up to $700 million from Maria and additional catastrophe losses, including...

  • The company estimated pre-tax losses of about $1 billion each from Harvey and Irma and up to $700 million from Maria. Losses from earthquakes in Mexico is expected to be about $150 million, AIG said in a statement. Insurers and reinsurers are counting the costs of the hurricanes that tore into parts of the United States, while ravaging several islands in the...

  • Oct 9- American International Group Inc said on Monday it expected to book pre-tax catastrophe losses of $2.9 billion to $3.1 billion, net of reinsurance, in the third quarter mainly related to recent hurricanes. The company estimated pre-tax losses of $1.1 billion to $1.2 billion from Hurricane Harvey, $1.0 billion to $1.1 billion from Hurricane Irma and $600...

  • CAPE TOWN, Oct 5- South African waste management company Interwaste fired KPMG as its auditor on Thursday, dealing another blow to the accounting firm ensnared in a scandal involving business friends of President Jacob Zuma. Interwaste, a Johannesburg- based company involved in the disposal and recycling of waste from mines and residential homes, has...

  • BEAZLEY Lloyd's of London insurer Beazley said losses from hurricanes Harvey, Irma and Maria and a series of earthquakes in Mexico would reduce its 2017 earnings by about $150 million. HCI GROUP HCI Group's principal operating subsidiary, Homeowners Choice Property& Casualty Insurance, a provider of home insurance in Florida, issued a preliminary estimate...

  • BEAZLEY Lloyd's of London insurer Beazley said losses from hurricanes Harvey, Irma and Maria and a series of earthquakes in Mexico would reduce its 2017 earnings by about $150 million. HCI GROUP HCI Group's principal operating subsidiary, Homeowners Choice Property& Casualty Insurance, a provider of home insurance in Florida, issued a preliminary estimate...

  • *Trump due in Puerto Rico on Tuesday. SAN JUAN, Puerto Rico, Oct 2- Puerto Rico Governor Ricardo Rossello reported progress in getting fuel supplies to the island's 3.4 million inhabitants on Monday as they faced a 13th day largely without power after the U.S. territory was devastated by Hurricane Maria. President Donald Trump, who has faced criticism for his...

  • BEAZLEY Lloyd's of London insurer Beazley said losses from hurricanes Harvey, Irma and Maria and a series of earthquakes in Mexico would reduce its 2017 earnings by about $150 million. HCI GROUP HCI Group's principal operating subsidiary, Homeowners Choice Property& Casualty Insurance, a provider of home insurance in Florida, issued a preliminary estimate...

  • *Trump due in Puerto Rico on Tuesday. SAN JUAN, Puerto Rico, Oct 2- Puerto Rico Governor Ricardo Rossello reported progress in getting fuel supplies to the island's 3.4 million inhabitants on Monday as they faced a 13th day largely without power after the U.S. territory was devastated by Hurricane Maria. President Donald Trump, who has faced criticism for his...

  • Oct 2- Everest Re Group Ltd has said its Dublin- based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case Britain does not have access to the single market after Brexit. UK insurer Chesnara could move its headquarters to the Netherlands or Sweden if...