The World Health Organization’s ability to police the new strain of bird flu that has killed 27 people in China is being jeopardized by budget cuts, according to a top U.S. official. “One of the things that, frankly, concerns us …
Insurer Prudential has reaffirmed a commitment to its British home market as a source of financial strength and profit even as Asian units romped ahead as the main driver of sales. Speaking on Tuesday after posting 8 percent first quarter …
PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data, has extended its market coverage to include Italy, and will provide data for both earthquake and flood perils with immediate effect. PERILS said it will make available market-wide property sums …
Low damage claims and rising premiums helped to shield earnings at German reinsurers Munich Re and Hannover Re in the first quarter, as the sector battles to shore up profits amid record low interest rates. The two reinsurers said on …
China’s new-found clout in regulating global mergers is causing headaches for companies seeking high-stakes deals that need Beijing’s approval. Where corporate lawyers and advisers were once primarily concerned with merger clearance in the United States and Europe, China’s anti-monopoly law …
Bermuda-based Argo Group International Holdings, Ltd. reported increases in both gross premiums written and net income for the first quarter of 2103. GPW reached $438.2 million, up by $41.9 million, a 10.6 percent increase. Net income was $32.7 million or …
Spain’s MAPFRE announced that it had total revenues of €6.942 billion [$9.1 billion], a 1.6 percent increase, and attributable results of €264.3 million [$346.5 million], down by 2.6 percent, in the first quarter of 2013. It said the results were …
ACE Limited announced that it has completed the acquisition of Mexican personal lines insurer ABA Seguros from Ally Financial Inc. for approximately $690 million in cash, after a $175 million pre-closing dividend taken by the seller. ACE noted that ABA …
A.M. Best Europe – Rating Services Limited has revised the outlook to stable from positive and affirmed the financial strength rating of ‘C++’ (Marginal) and the issuer credit rating of “b” of Boubyan Takaful Insurance Company KSC (CLOSED), which is …
CEO Mike McGavick seemed quite pleased with XL’s results for, the first quarter of 2013. “XL once again delivered solid results — the kind of results we seek to routinely produce,” he wrote in the earnings report. “While none of …
