The Bermuda-based Armour Group announced the formation of a new ILS [Insurance Linked Strategies- more commonly ‘securities’] focused asset manager to “target unique opportunities for uncorrelated returns in a low-yield environment.” Armour said its new unit, ILS Investment Management Limited, …
The battle for control of Italian insurer Fondiaria-SAI heated up on Wednesday when two private equity funds tabled a rival offer to one brokered by top investment bank Mediobanca to rescue the troubled insurer by merging it with peer Unipol. …
Fairfax Financial Holdings, the property and casualty insurer run by investment guru Prem Watsa, said on Thursday that its fourth-quarter loss widened by 56 percent due to catastrophe claims and losses on the company’s equity hedges. The Toronto-based company lost …
Although the recent summit of the 27 countries of the European Union did manage to come up with a plan to control budget deficits – in the future – it “took no clear short term actions to address the debt …
A $10.6 billion lawsuit against U.S. oil company Chevron and rig contractor Transocean could further cool an increasingly chilly investment climate in Brazil’s natural resources industry. The lawsuit, filed as a result of a small oil spill off Brazil’s coast …
Billionaire investor Warren Buffett said Europe’s debt crisis had shown up a “major flaw” in the 17-member euro zone system and it would take more than words to fix it. “There is a major flaw in the euro system … …
A unit from the Tokyo Metropolitan Police Department’s organized crime division has joined an investigation into an accounting scam at Japan’s disgraced Olympus Corp, a source familiar with the matter said on Friday, in a sign that the scandal could …
Allianz reported Net income of €258 million [$353.46 million] for the third quarter of 2011, compared to €1.268 billion [$1.737 billion] in Q3 2010, a 79.7 percent drop. For the first nine months of the year Allianz’ net income was …
Japan’s Olympus admitted on Tuesday it had hidden losses on securities investments dating back to the 1980s, succumbing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt. The …
Warren Buffett should come to Europe to tap regional champions at knock-down valuations, including in his favored sectors, Cheuvreux analysts said in an open ‘letter’ to the billionaire U.S. investor detailing their seven top picks. The firm, CA Cheuvreux, a …
