Despite its problems with Security Capital and the charges it expects to incur (See related article), Bermuda’s XL Capital managed to post net income available to ordinary shareholders of $237.9 million for the second quarter of 2008, compared to $544.5 …
Hartford Financial Services Group Inc.’s earnings fell in the second quarter, hurt by claims from tornado damage. Operating earnings fell 9 percent to $696 million. Net income for the second quarter was down 13 percent to $543 million, from $627 …
Standard & Poor’s Ratings Services has announced that it is “taking no rating action on Allstate Corp. (NYSE:ALL; A+/Stable/A-1) or its subsidiaries following Allstate’s announcement that it had a pretax loss of $86 million for second-quarter 2008 compared with pretax …
German reinsurer Munich Re issued a profit warning on Friday, saying turmoil in global markets would hurt its second-quarter earnings and result in a lower than forecast profit for the year as a whole. “Against the background of steep falls …
A Jackson County judge agreed on Wednesday, July 23 to throw out a contempt order against Allstate Insurance after determining the company had finally complied with his directions to release confidential documents. The Kansas City Star reported on its Web …
Bermuda-based Arch Capital Group Ltd. will release its 2008 second quarter results after the close of regular stock market hours today, Thursday, July 24, 2008. The Company will hold a conference call for investors and analysts at 11:00 a.m. Eastern …
Allstate Corp, the largest publicly traded U.S. home insurer, said on Wednesday net income plunged in the second quarter, hit by the highest level of second-quarter catastrophe losses in its 77-year history. Catastrophe losses for the quarter rose more than …
The world’s largest insurance company, the one that always announces spectacular earnings, the company with the forceful views on how the market should function, has fallen off its pedestal. It not only has fallen, but also has tumbled down a …
Japan’s Tokio Marine Holdings, Inc. reported that it has agreed to acquire all outstanding shares of Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. The total transaction value is approximately $4.7 …
Royal Bank of Scotland looks increasingly likely to shelve plans to sell its insurance arm and turn instead to other smaller deals to top up its capital. RBS announced plans to sell Britain’s largest car insurer in April. But the …
