United States of America (USA)
Allstate report Q1 net income upswing
Allstate said that net income in the first three months of the year rose to $120m from a loss of $274m this time last year.
Willis international arm hit by "weak" UK and Ireland
Willis has reported net income from continuing operations for the first quarter of 2010 was $204m, compared with $192m in the same period a year ago.
Willis international arm hit by "weak" UK and Ireland
Willis has reported net income from continuing operations for the first quarter of 2010 was $204m, compared with $192m in the same period a year ago.
Deepwater Horizon oil rig continues leaking oil as claims rise
Owner BP expects its self-insurance and captive insurance to cover costs associated with a massive clean-up effort, which has been said to be costing $6m a day.
Assurant purchases $150m reinsurance through cat bonds
Assurant subsidiaries have entered into reinsurance agreements providing for $150m in multi-year, fully collateralized reinsurance from Ibis Re, a special purpose reinsurance company domiciled in the Cayman Islands.
Montpelier appoints US CEO
Short-tail (re)insurer Montpelier Re has named Dick Nenaber CEO of Montpelier US Insurance Company (MUSIC).
AIG “relatively stable” – US government
AIG has remained in “relatively stable” financial shape since September last year, the United States Government Accountability Office said.
W R Berkley swings to Q1 profit
W R Berkley has reported net income for the first quarter of 2010 of $119 compared with a loss of $20m for the first quarter of 2009.
US financial reforms stumble in Senate
The most sweeping overhaul of US financial services rules since the Great Depression stumbled in the Senate on Monday as Republicans united to prevent action on the bill.
RGA's Q1 operating profit up 38%
Reinsurance Group of America reports rise in quarterly operating profit, helped by a 21% growth in net premiums earned.
Senators near agreement on financial regulation
Senators negotiating financial regulatory reform legislation said on Sunday they were close to a bipartisan agreement, according to newswire Reuters.
Tornado causes devastation in Mississippi
A tornado nearly a mile wide ripped through central Mississippi on Saturday, killing 10 people, including three children, and injuring dozens of others, state authorities said.
Travelers Q1 profit hit by cat claims
US property insurer’s first-quarter profit dropped 2.3% as the cost of its catastrophe claims increased more than fivefold.
US doomed to another crisis if financial reforms are not implemented – Obama
President Barack Obama scolded the US financial services sector for its "furious efforts" to fight tighter regulation, saying the United States was doomed to another financial crisis if reforms were not implemented.
Swiss Re, Lloyd’s see boost for insurers in Dodd Bill
Proposed plans to create US Treasury Department office to negotiate international regulations have drawn praise from (re)insurers.
Brown & Brown Q1 profit down 8%
US (re)insurance broker Brown & Brown has reported a quarterly profit that narrowly beat market estimates, helped by low expenses.
Endurance promotes Asquino
Endurance Specialty Holdings has announced the appointment of Thomas Asquino as CUO, property and casualty, of Endurance Worldwide Reinsurance.
Goldman Sachs does not have E&O cover
Goldman Sachs, the investment banking giant that has recently been indicted by the SEC for fraud, does not carry E&O insurance, market sources have told Reinsurance.
AIG linked with Goldman Sachs legal action as Clegg weighs in
AIG is reported to be considering action against Goldman Sachs.
Waterland to buy MetLife Taiwan for $112.5m
Waterland Financial Holdings to pay cash for the Taiwan business of the US life insurer as more insurers exit the country.
US Congress extends National Flood Insurance Program
President Barack Obama has signed into law legislation that extends the National Flood Insurance Program (NFIP) through to 31 May.
Goldman Sachs charged with fraud by the SEC
Goldman Sachs Group was charged with fraud on Friday by the US regulator in the structuring and marketing of a debt product tied to subprime mortgages.
View from Top - Europe: Facing up to global litigation risks
Embracing the benefits of a global supplier network and access to customers around the world carries opportunities and risks alike. While the risks around the global supply chain are frequently discussed, the dangers in regards to product liabilities…
QBE set for $565m purchase of US underwriter NAU
QBE has agreed to agree underwriter and multi-peril crop insurance firm NAU Country Insurance for $565m (£365m).