Bermuda-based PartnerRe Ltd. announced that it has priced, through its indirectly wholly-owned subsidiary PartnerRe Finance B LLC, $500 million of 10-year fixed rate 5.50 percent Senior Notes, pursuant to its currently effective shelf registration statement. “The Senior Notes will be …
The California State Compensation Insurance Fund, reported it ended 2009 with $1.25 billion in net premium earned, and $143 million in net income, compared with $75 million in net income earned in 2008, Doug Stewart, interim president and CEO announced. …
Competition and the expiration of federal tax exemption cut BrickStreet Mutual Insurance Co.’s profit by 66 percent in 2009. The workers’ compensation insurer says it earned $38.9 million last year, compared to $113.6 million in 2008. BrickStreet President and CEO …
Richfield, Ohio-based National Interstate Insurance Company reports it experienced significant expansion in its Alternative Risk Transfer (ART) component in 2009. The company added 114 companies to its group captive programs, bringing the total to 384 companies at year end. During …
Homeowners Choice Inc., a Florida-based homeowners’ insurer, reported a profitable fourth quarter and year 2009. Net income for the fourth quarter of 2009 was $807,000, compared to net income of $5.1 million for the fourth quarter of 2008. Gross premiums …
AIG is selling its foreign life insurance unit to MetLife Inc. for about $15.5 billion, its second major asset sale in a week as it raises funds to repay a massive U.S. government bailout. MetLife said Monday that it would …
Standard & Poor’s Ratings Services has published updated assumptions for assessing European insurance hybrid capital instruments (see “Assumptions: Implications Of Solvency II Proposals For Our European Insurance Hybrid Criteria”). “We published the new criteria to clarify several areas, said the …
Singapore’s biggest sovereign wealth fund GIC and Qatar Holding LLC have committed to underwrite a significant portion of UK Prudential’s $20 billion rights issue. GIC is an existing shareholder, with a 0.5 percent stake in Prudential, but Qatar does not …
American International Group said it would sell its 13.8 percent stake in reinsurer Transatlantic Holdings Inc, worth about $500 million at Thursday’s closing stock price. AIG, nearly 80 percent owned by the U.S. government, said on Friday that its American …
CRM Holdings Ltd., a specialty provider of workers’ compensation insurance products, announced it had a net loss of $19 million in the fourth quarter of 2009. In the same period in 2008, the compnay had a net loss of $6.2 …
