American International Group Chief Executive Edward Liddy is inching toward several more asset sales, has plans for a trio of initial public offerings, and expects the financial products unit to be a much smaller problem by year-end. Unlike the growth …
U.S. life insurers, weakened by the global financial crisis, are in for mergers and regulators will not shy away from playing matchmaker to deal with weak companies, Eric Dinallo, New York’s insurance superintendent, said Tuesday. Deals could happen in other …
ACE Limited reported from its Zurich headquarters that net income for the quarter ended March 31, 2009 was $567 million, or $1.69 per share, compared to $377 million, or $1.10 per share for the same quarter last year. Income excluding …
German insurer Allianz and U.S. credit card group American Express raised a combined $1.9 billion on Tuesday through the sale of shares in Chinese banking giant Industrial and Commercial Bank of China (ICBC). The move was expected, as the two …
Bermuda-based PartnerRe Ltd. posted net income of $141.5 million, or $2.32 per share on a fully diluted basis for the first quarter of 2009, compared to $129 million in the same period of 2008. “Net income includes net after-tax realized …
Cedar Rapids, Iowa-based United Fire & Casualty Company reported net income for the first quarter of 2009 was $3.3 million or 12 cents per diluted share, down from a net income of $20.1 million or 74 cents per diluted share …
A former General Re senior vice president faces sentencing for his role in an accounting fraud scandal that artificially inflated the stock price of insurer American International Group Inc. Robert Graham is scheduled to be sentenced Thursday in federal court …
Willis Re, the reinsurance arm of global broker Willis Group Holdings, and Thomson Reuters today announced the launch of the Willis Re Catastrophe Price Index™ on the Thomson Reuters Insurance Linked Securities portal. “The index measures pricing levels in the …
Risk Management Solutions announced that Munich Re and Tokio Marine Nisshin Fire have closed a private catastrophe swap based on its industry loss index, Paradex-Europe Windstorm. “This transaction now brings the total notional amount of risk transferred using Paradex-Europe Windstorm …
Standard & Poor’s Ratings Services has issued a new report, – “Europe’s Insurers Feel The Strain, But The Sector Retains Its Strength” – which indicates that for many insurers, market conditions over the past 18 months have “eroded the headroom …
