Property & Casualty Insurance

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UnipolSai Assicurazioni SpA divests stake in Sorin for 61.4 million euros

Friday, 17 Apr 2015 01:59am EDT

UnipolSai Assicurazioni SpA:Says it sold 4.565 percent stake in Sorin.Says stake sold for 61.4 million euros.

American International Group announces Douglas M. Steenland as Chairman

Thursday, 16 Apr 2015 08:55am EDT

American International Group Inc:Says Douglas M. Steenland will succeed Robert S. Steve Miller as non-executive Chairman of the Board of Directors, effective July 1.

People's Insurance Co Group of China Ltd announces establishment of a reinsurance company

Thursday, 16 Apr 2015 04:37am EDT

People's Insurance Co Group of China Ltd:Says company and PICC P&C entered into promoters’ agreement.For establishment of Reinsurance Company, pursuant to which company shall subscribe for 51 pct shares in Reinsurance Company for subscription price of 510 mln Yuan.Capital contribution of the Company shall be satisfied by Company’s internal resources.Reinsurance Company shall engage in business of life reinsurance and property and casualty reinsurance, specifically including reinsurance business within the territory of PRC, retrocession business within the territory of the PRC and international reinsurance business.And management of insurance funds as permitted under PRC laws and regulations, and other business as authorized by CIRC and relevant PRC authorities.

Indequity Group Ltd gives H1 2015 earnings guidance

Wednesday, 15 Apr 2015 04:47am EDT

Indequity Group Ltd:Expects H1 2015 basic earnings per share (EPS) is expected to be between 26.754 and 30.576 cents per share.Expects H1 2015 headline earnings per share (HEPS) is expected to be between 27.006 and 30.864 cents per share.

Fairfax Financial Holdings Limited announces memorandum of understanding with OMERS

Wednesday, 15 Apr 2015 02:00am EDT

Fairfax Financial Holdings Limited:Announces that they had reached agreement regarding the terms of a recommended cash offer by FGL, an entity wholly-owned by Fairfax, for the entire issued and to be issued share capital of Brit.Says on March 23, FGL announced that the Offer had become unconditional as to acceptances.Says FGL announces that it has entered into a non-binding Memorandum of Understanding with OMERS to sell up to 29.9 pct of Brit at a price of $4.30 per share, which is equivalent to the Cash Amount under the Offer based on the exchange rate on Feb. 17.

Tryg keeps FY 2015 guidance unchanged

Wednesday, 15 Apr 2015 01:30am EDT

Tryg A/S:Keeps its guidance for FY 2015 of a return on equity target at 20 percent after tax and an expense ratio below 15 percent.

American Financial Group to sell run-off long-term care business

Tuesday, 14 Apr 2015 09:00am EDT

American Financial Group Inc:Has reached a definitive agreement to sell the legal entities containing all of its run-off long-term care insurance business to HC2 Holdings Inc for an initial payment of $7 million in cash and HC2 securities.In addition, AFG may also receive up to $13 million of additional proceeds from HC2 in the future based on the release of certain statutory liabilities of the legal entities sold by AFG.

Suncorp Group Ltd announces incoming Group CEO

Monday, 13 Apr 2015 07:01pm EDT

Suncorp Group Ltd:Says that after successfully leading Suncorp for six years, Patrick Snowball will step down in Oct. and return to the UK.Announces appointment of Michael Cameron to position of group chief executive officer and managing director with a start date in Oct.

Hanover Insurance Group's Chaucer to exit UK Motor Business

Monday, 13 Apr 2015 08:06am EDT

Hanover Insurance Group:Signs a definitive agreement through which it will transfer its United Kingdom motor business to Markerstudy Group, a UK-based insurance provider.Transaction will be executed through a 100 pct reinsurance arrangement for prior claim liabilities and in-force policies written by this division and the sale of the entities associated with this business.Transaction is expected to close in the third quarter.Says it is not expected to have a material impact on The Hanover's 2015 operating earnings.Says total consideration for the transaction is about $60 mln.Willis Capital Markets & Advisory advised The Hanover on the transaction.

Thai Setakij Insurance PCL announces appointment of chairman

Wednesday, 8 Apr 2015 09:36pm EDT

Thai Setakij Insurance PCL:Announces appointment of Ves Visavayothin, chairman of auditing committee and independent director to also take the position of the board of directors’ chairman.


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