United States of America (USA)

US investors ready to back second bond push

Towergate believes that there is a healthy appetite among US investors if it goes ahead with a bond issue in the near future. The consolidator postponed its original £665m placing last week, and will bide its time until the beginning of July to see if…

Allied World appoints new US claims head

Allied World US has announced that Mark Rosen, executive vice president & chief claims officer will retire in June. Julianne Splain, VP of professional and management liability claims has been promoted to senior VP and will assume responsibility for the…

Pru and AIG in talks on restructuring AIA sale

AIG and Prudential are in advanced talks to restructure the $35.5bn sale of AIA, the AIG’s Asian unit, in a move that would cut the cash consideration by about $2bn but could answer UK regulators’ last-minute objections to the deal according to the…

Liberty Mutual net income soars

US insurance giant Liberty Mutual has reported net income of $315m for the three months ended March 31, 2010 an increase of $293m over the same period in 2009 despite $411m catastrophe losses in the quarter.

Fairholme increases AIG stake

Fairholme Capital Management, the investment firm run by Bruce Berkowitz, has raised its bet on the recovery of AIG by increasing holdings to 25.5 million shares, following the release of the insurance giant’s first quarter results.

Johnston Re cat bond completed

Johnston Re, the US hurricane catastrophe bond for the North Carolina Joint Underwriting Association (NCJUA) and the North Carolina Insurance Underwriting Association (NCIUA), closed on Monday at $305m.

Willis Risk Solutions adds to senior team

Willis has confirmed George Haitsch has been appointed as practice leader for Willis Risk Solutions, the business unit that serves the broker’s large, complex corporate clients in North America.

Mapfre Q1 results decline

Mapfre achieved in the first quarter of the year a net attributable result of €273.1m, 4.8% less than in the same period of the previous year, “as the extraordinary results obtained in 2009 by the group’s parent holding company were not repeated.”

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