All Top News Stories of The Week articles – Page 3
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S&P: AIG ratings downgraded after $7.8bn loss
The level of losses exceeds expectations; outlook is likely to remain negative after $12.5bn capital raise
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AIG reveals $7.8bn loss in Q1
Ailing insurer plans to raise $12.5bn “to fortify its balance sheet”
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Asia Capital Re launches retakaful company
The venture with Khazanah Nasional Bhd and Dubai Banking Group will be the world's largest retakaful company
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S&P withdraws ratings for Hiscox sidecar
Hiscox announced it would be terminating its relationship with its sidecar last year
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Ambac outlines recovery plan
Despite challenging conditions, the monoline is “committed to achieving stable ratings”
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Validus launches Miami-based Latin insurer
Validus Reaseguros will specifically target the Latin American and Caribbean markets
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Albertini to head up Amlin ILS venture
New investment management firm is headed up by John Wells and former Swiss Re ILS head Luca Albertini
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Online onlyInvestment loss sees Berkshire profits plummet
During the first quarter Berkshire’s derivatives had an unrealised pre-tax loss of $1.6bn
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S&P affirms Berkshire’s “AAA”
Derivative loss of $1.6bn is contained within the $281bn in total assets at the end of Q1
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Endurance income drops; GWP leaps 51.5%
Premiums grew due to the acquisition of an agriculture insurance company, says LeStrange
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Talbot contributes to Validus’ Q1 profit growth
Net income was up 17% to $66.5m for Q1, compared to $56.7m a year ago
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E&Y launches insurance run-off team
Kevin Gill joins from running his own legacy consultancy to head up the new team
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Glacier Re makes senior appointments
The Swiss reinsurer has named Eddie Harte as operations and finance manager and Pascal Gabathuler as risk manager
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Montpelier Re reveals $1.8m Q1 loss
The reinsurer's profits were dented by cat losses, including European windstorm Emma
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Aspen Q1 income falls to $81.2m
"We wrote less business this quarter because of declines in rates", says O'Kane
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S&P: Cat bond issuance to slow in 2008
The lack of significant catastrophe activity and a softening market has led to the slowdown
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Munich Re buys US marine insurer for $52.5m
Roanoke will report to Mark Watkins who also manages the Watkins Syndicate and related service companies
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Online onlyFlorida opts to change collateral rules
Florida regulator proposes scrapping 100% collateral requirements for foreign reinsurers
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ACE reveals $650m Q1 credit crunch loss
"Unprecedented financial market volatility" impacted net income and book value, says ACE
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RenRe profits dip in Q1
Reinsurer will continue to actively manage capital and remain disciplined in underwriting, insists CEO Currie
