October 29, 2015
Swiss Re AG, the world’s second-largest reinsurer, posted a 13 percent increase in third-quarter profit after allowing for $250 million in losses from the chemical warehouse explosions in the Chinese city of Tianjin in mid- August. Net income climbed $1.4 …
October 27, 2015
Everest Re Group Ltd. reported third quarter 2015 after-tax operating income available to common shareholders of $200.2 million, or $4.53 per diluted common share, compared to after-tax operating income of $280.5 million, or $6.12 per diluted common share, for the …
October 27, 2015
Dublin-headquartered XL Group reported third quarter operating net income of $70.8 million, or $0.23 per share, down from $187.1 million, or $0.70 per share, in the prior year quarter. The current quarter’s results include approximately $55.2 million in integration costs …
October 26, 2015
Greenlight Capital Re Ltd. posted its third-straight unprofitable quarter on losses in the investment portfolio overseen by hedge-fund manager David Einhorn. The net loss for the period ended Sept. 30 widened to $219.7 million, or $5.98 a share, from $51.8 …
October 26, 2015
Bermuda-based Ironshore International announced the acquisition of the reinsurance renewal rights to Novae Group’s global agriculture reinsurance portfolio. The transfer is conditional on Lloyd’s approval and is expected to be completed in November 2015. Novae’s team of five agriculture reinsurance …
October 16, 2015
Bermuda-based Aspen Insurance Holdings Limited estimates its Aspen Re subsidiary lost approximately $50 million from the August 12 explosion in the Port of Tianjin, China, and from natural catastrophes during the third quarter of 2015. Approximately $30 million of these …
October 14, 2015
W. R. Berkley Corp. announced it has launched a business unit dedicated to writing South African business. The new unit, which will report to Berkley Re UK, will provide treaty service to both insurers and brokers in the region. Sean …
October 14, 2015
PartnerRe Ltd. estimates that losses from the August explosion in China’s Port of Tianjin will be between $50 million and $70 million pre-tax and net of retrocession and reinstatement premiums. These losses will be recorded in the company’s third quarter …
October 12, 2015
China Reinsurance (Group) Corp., the nation’s biggest reinsurer, will sell about half of its as much as $2 billion Hong Kong initial public offering to cornerstone investors. U.S.-based Prudential Financial Inc., China Life Insurance Co. and Macau casino executive Pansy …
October 8, 2015
Catalina Holdings (Bermuda) Ltd. announced its wholly owned Swiss subsidiary, Glacier Reinsurance AG, has signed a definitive agreement to acquire Allianz Suisse Ruckversicherungs-Gesellschaft AG from Allianz SE. Allianz Suisse Re is a Swiss regulated reinsurer incorporated in 2007 with the …