August 19, 2011
Ping An Insurance Co. of China Ltd. said Thursday its fast-growing banking business helped to boost profit for the first half by nearly 33 percent. Profit for the six months ending June 30 was 12.8 billion yuan ($1.9 billion), Ping …
August 19, 2011
QBE, Australia’s global insurance group, announced a 53 percent increase in the half year net profit after tax of US$673 million. The group noted that this figure was “within the range provided to the market on 14 June 2011.” QBE …
August 8, 2011
German reinsurer Hannover Re reported that its net income for the first six months of the year totaled €218.5 million [$313 million], despite the losses that occurred in the first quarter. The decrease was substantial, compared to the €310.6 million …
August 5, 2011
Munich Re, the world’s largest reinsurer, bounced back into the black during the second quarter of 2011, making profits of €738 million [$1.042 billion], an increase over the €709 million [$1 billion] posted during the same period in 2010. However, …
August 4, 2011
European shares held steady on Thursday, as strong earnings from insurers provided ballast and hopes that the European Central Bank could show readiness to buy bonds offset worries about slow economic growth in the region. The STOXX Europe 600 Insurance …
August 4, 2011
Swiss Re reported Group net income increased by 18 percent to $960 million in the second quarter of 2011, compared to $812 million in the same period of 2010. “All segments contributed to these positive results, which translate into a …
July 29, 2011
Fairfax Financial Holdings, which took a 9 percent stake in Bank of Ireland earlier this week, said Thursday its quarterly profit rose from a year earlier due mainly to increases in its stock and bond portfolios. The Toronto-based firm, which …
July 28, 2011
Reinsurer Validus Holdings Ltd missed second-quarter expectations, as underwriting income fell sharply and the company posted losses from the record-setting U.S. tornadoes of April and May. Validus is in the middle of a bidding war for competitor Transatlantic Holdings, having …
June 1, 2011
CAMICO, the nation’s largest CPA-focused program of professional and employment practices liability insurance for the accounting profession, has posted a gain of $3 million in policyholders’ surplus for the year ended Dec. 31, 2010. CAMICO’s 2010 financial statement shows $945,000 …
May 16, 2011
The nation’s bank holding companies (BHCs) experienced a decrease of 5.7 percent in their total insurance revenue from a record $15.08 billion in 2009 to $14.21 billion in 2010, when MetLife, a traditional life insurance company, is excluded. Total insurance …