October 26, 2011
Flagstone Re announced that its preliminary estimates for losses occurring in the third quarter of 2011 are expected to total around $45 million. The losses that impacted its reinsurance segment were related to Hurricane Irene, floods in Denmark, and the …
September 23, 2011
East Texas is deeply rooted in the timber industry — and during the last 10 months, wildfires have wiped out more than $97 million worth of the region’s trees, the Texas Forest Service reports. Since wildfire season began on Nov. …
September 21, 2011
As had been more or less predicted, Lloyd’s posted a £697 million [$1.094 billion] pre-tax loss for the first six months of 2011, compared to an overall profit of £628 million [$985.6 million] as of June 30, 2010. The report …
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, …
May 6, 2011
Lloyds, the UK’s state-backed bank, which has no affiliation with Lloyd’s of London, took a shock £3.2 billion ($5.3 billion) charge against its profits on Thursday to cover compensation for people sold insurance they would never be able to claim. …
February 18, 2011
Toronto-based Fairfax Financial Holdings said Thursday it fell to a fourth-quarter loss as its stock and bond portfolios were hurt by rising interest rates and a decision to hedge investments. The Toronto-based property and casualty insurer lost $364.6 million, or …