Munich Re announced that according to its “preliminary calculations” consolidated profits increased “significantly” in 2009 to €2.56 billion [$3.57 billion, compared to €1.58 billion [$2.2 billion] in 2008. Profits for the fourth quarter of 2009 were €780 million [$1.087 billion], …
A prolonged soft market coupled with the worst economic period since the Great Depression as well as uncertainty related to national health care reform, caused insurance brokerage buyers and sellers to struggle with how to effectively carry out their growth …
A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of Royal & Sun Alliance Insurance Company of Canada (RSA Canada), Quebec Assurance Company and …
Munich Re posted a statutory notice on Tuesday announcing that Berkshire Hathaway’s stake in the company rose to 3.045 percent on January 18, just above the level at which such holdings must be disclosed. “Warren Buffett is an expert at …
Zurich Financial Services has announced “key enhancements to its Global Risk Assessment Module (GLORAM). The program is designed to assist businesses in coping with their risk management calculations. Zurich described GLORAM as a “fact-based management tool which simplifies the results …
Agencies Contemplating Selling Soon Should Understand Their Opportunity Costs First Capital gain tax rates will increase when the current legislation sunsets at the end of 2010. The best case scenario is the current 15 percent rate reverting to 20 percent, …
Standard & Poor’s Ratings Services announced that its ratings on “U.S.-based Assurant Inc. (BBB/Negative/A-2) and related entities are not affected by the settlement of an SEC investigation regarding certain loss-mitigation insurance products. The reinsurance contract under examination had $2.6 million …
Validus Holdings announced that it has priced a registered offering of $250 million aggregate principal amount of 8.875 percent Senior Notes due 2040. They are to be sold to the public at a “price of 98.71 percent of principal.” The …
Life insurer and fund manager AXA Asia-Pacific Holdings Ltd expects to report a forecast-beating profit for 2009, putting pressure on rival bidders to raise their offers in a $12 billion battle for the company. AXA Asia-Pacific, which is being circled …
Workers’ compensation total costs per claim in Michigan are among the lowest of 15 states, and the growth of these costs in Michigan over time has been more stable than in most other study states, according to a new study. …
