Bermuda’s Minister of Finance, the Hon. Paula A. Cox, announced that Bermuda has concluded negotiations for a bilateral agreement with the Italian Republic that will, “upon signing later this year, provide for a full exchange of information on criminal and …
The UK’s Prudential Plc is expected to outline divestments of some Asian assets in its upcoming rights offering prospectus in an effort to appease shareholder concerns about its planned AIA acquisition, a source familiar with the process told Reuters on …
National Australia Bank, which has seen its $13 billion takeover bid for AXA Asia Pacific Holdings Ltd blocked by the competition regulator, is preparing to sell some assets to appease the government watchdog, two sources said. NAB, staring at an …
Risk Management Solutions (RMS) announced that China Reinsurance (Group) Corporation, the largest reinsurer in Asia, will “license its catastrophe modeling software to support the expansion of China Re’s property and casualty reinsurance business. “China Re will use RMS’ models for …
Munich Re achieved a consolidated profit of €485 million ($633 million) in the first quarter of 2010, slightly ahead of the €437 million ($571 million) in the same period last year. The earnings bulletin explained that “large gains from the …
The Zurich Financial Services Group reported a strong performance for the three months ended March 31, 2010. First quarter performance highlights included the following: • Business operating profit (BOP) of $1.3 billion, an increase of 19 percent. Annualized BOP ROE …
A.M. Best Co. has commented that the ratings of Bermuda-based Torus Insurance Holdings Limited and its operating subsidiaries are unchanged following Torus’ announcement that its subsidiary, Torus Insurance (Bermuda) Limited, will acquire Liechtenstein-based Glacier Insurance AG. [See IJ web site …
The blow-up of a $1 billion subprime mortgage-linked security called Timberwolf 1 may have provided Goldman Sachs Group with an early clue about trouble to come at insurance giant American International Group . It may be just coincidence, but there …
Bermuda-based Aspen Insurance Holdings Limited reported a net profit after tax for the first quarter of 2010 of $18.3 million and operating earnings of $0.01 per diluted ordinary share, compared to a net profit after tax of $91.4 million, and …
ACE Limited reported from its headquarters in Zurich that net income for the quarter ended March 31, 2010, totaled $755 Million, compared to $567 million in Q1, 2009. Net income was $2.22 per share, compared with $1.69 per share for …
