Munich Re, the world’s biggest reinsurer, said third-quarter profit slumped 29 percent on a decline in earnings from investments. Net income declined to 520 million euros [$567.8 million] in the three months through September from 733 million euros [$800.4 million] …
Munich Re, the world’s biggest reinsurer, raised its full-year profit target after net income beat analyst estimates on lower catastrophe claims. The shares rose. Net income rose to 1.07 billion euros [$1.14 billion] in the second quarter from 758 million …
Bermuda-based Everest Re Group Ltd. reported second quarter 2015 net income of $209.1 million, or $4.68 per diluted common share, compared to net income of $290.2 million, or $6.26 per diluted common share, for the second quarter of 2014. After-tax …
Texas had the most catastrophe losses in the United States during the first half of 2015, according to a new report on North American cat losses during the first six months of the year. Seventeen second-quarter catastrophe events in North …
A string of recent major natural catastrophe events in Australia is expected to materially affect non-life insurers’ upcoming earnings for the fiscal year that ends June 30, 2015, according to an A.M. Bestbriefing. However, the Best’s Briefing, titled, “Recent Natural …
The Chubb Corporation announced Tuesday that it estimates the impact of losses from catastrophes for the first quarter of 2015 to be approximately $250 million before tax ($0.69 per share after tax). The Warren, New Jersey-headquartered Chubb said catastrophe losses …
Catlin Group Limited, the Bermuda-based specialty property & casualty insurer and reinsurer, has issued its interim management statement for the nine-month period ended September 30, 2014, which shows premiums reported and not financial results. The interim statement includes the following …
The Bermuda-based Argo Group International Holdings, Ltd. announced the establishment of a new sidecar reinsurer for the 2014 accident year, Harambee Re Limited, which it said “continues Argo Group’s use of sidecar partners following the creation of Harambee Re 2013-1 …
A University of Alabama study has found that the April 2011 tornado didn’t severely impact home foreclosures in the Tuscaloosa area. Sociologist Bronwen Lichtenstein says researchers noted a slight decrease in foreclosures after the tornado. She and associate professor Joseph …
ACE USA has launched catastrophe claims servicing capabilities specifically designed for the construction industry through ESIS Inc., a risk management services company owned by the ACE Group. The new offerings provide an additional layer of protection from losses that occur …
