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Insurance Reinsurance

  • 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...

  • 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...

  • OMAHA, Neb., May 9- It has been decades since anyone thought of Warren Buffett's Berkshire Hathaway Inc, or even its insurance operations, as "very, very small." The biBERK chief operating officer, Rakesh Gupta, said the year-old operation, known as "Cover Your Business" until a March name change that could benefit from Berkshire's cachet, was the brainchild of Ajit Jain,...

  • OMAHA, Neb., May 5- Berkshire Hathaway Inc, the conglomerate run by billionaire investor Warren Buffett, reported a 27 percent decline in first-quarter profit on Friday, and said a loss from insurance underwriting contributed to operating results that fell short of forecasts. Net income fell to $4.06 billion, or $2,469 per Class A share, from $5.59 billion, or...

  • MUNICH, April 27- Joachim Wenning admitted he would not be to everyone's liking long before taking the helm of Germany's Munich Re. While shareholders praised von Bomhard for navigating the global financial crisis, low interest rates and declining reinsurance prices have eroded profit in recent years. "I'm glad that Mr Wenning has already agreed to take this on...

  • The company also authorized a $5 billion share buyback program. Wind and hail storms in several regions of the United States, as well as a winter storm in the eastern part of the country resulted in higher catastrophe losses during the quarter. Net income fell to $617 million, or $2.17 per share, in the first quarter ended March 31, from $691 million, or $2.30 per share,...

  • ZURICH, April 13- Cyclone Debbie cost Swiss Re an estimated $350 million and the insurance industry roughly $1.3 billion, the world's second-biggest reinsurer said on Thursday, an unusually high loss that could see reinsurance prices rise in Australia. Cyclone Debbie, a Category 4 storm, slammed into Australia on March 28. The disaster zone stretched 1,000 km...

  • NEW YORK, April 6- HSB Ventures Inc, the venture capital subsidiary of German reinsurer Munich Re, has led a $45 million investment in Trov, a U.S.-based technology startup that provides on-demand insurance. In addition to investing, Munich Re and Sompo will work with Trov as underwriting partners as the company expands into Europe, Asia and South Africa,...

  • *Brussels beats Luxembourg and Dublin as base. LONDON, March 30- Insurance market Lloyd's of London, an integral part of the British business scene since the 17th century, has chosen Brussels as the site for its European Union subsidiary because of its strong regulatory framework, it said on Thursday. Nelson said the Brussels subsidiary would employ dozens of...

  • *Brussels, Luxembourg seen more flexible on capital. LONDON, March 27- Lloyd's of London, the world's largest speciality insurance market, will this week pick Brussels or Luxembourg for its planned European Union subsidiary, after Dublin had been an early favourite, sources say. Lloyd's shortlist of six locations has been reduced to Brussels and Luxembourg,...

  • Heavy waves caused by Hurricane Matthew pounds the boat docks at the Sunset Bar and Grill, October 7, 2016 on Cocoa Beach, Florida.

    Hurricane Matthew, which cut a deadly swath across the Caribbean and sent Florida residents scrambling, has left behind billions in damages.

  • Hank Greenberg

    Opening arguments began on Tuesday in the trial of Maurice "Hank" Greenberg over accounting fraud at the insurance giant some 16 years ago.

  • Inga Beale, chief executive officer of Lloyd's of London

    The risk the U.K. would vote to exit the EU, dubbed "Brexit," was one of the biggest risks to the global economy, Lloyd’s of London CEO Inga Beale said.

  • AIG too big to succeed: Analyst

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

  •  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.

  • Travelers

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

  • The Swiss Re building in Zurich is shown in this Feb. 19, 2009 photo.

    Swiss Re, the world's second-largest reinsurer, posted a 17 percent rise in net profit and said reinsurance rates remained attractive.

  • Higher yields would boost our sector: Swiss Re CFO

    Swiss Re CFO, David Cole, says higher yields would be a boon to the reinsurance sector.

  • Axis Capital Holdings Ltd and PartnerRe have agreed to an $11 billion merger to create one of the world's largest reinsurers.