Blog
Allied World and Transatlantic nix merger
Posted by RJ & Makay on September 16, 2011
Allied World Assurance Co. Holdings and Transatlantic Holdings, Inc. called off their merger today in the face of overwhelming opposition, and Transatlantic said it might remain independent despite two higher offers currently on the table. Shareholders were to vote on the Allied deal next Tuesday, but it was anticipated that ...
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Bank of America gets $5 billion injection from Warren Buffett
Posted by RJ & Makay on August 25, 2011
Bank of America has come to an agreement that has Berkshire Hathaway investing $5 billion in the embattled bank. The private offering comes at a time that has seen Bank of America shares lose 30% the past month amid rumors of capital deficiency. The bank denied those rumors and news ...
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Reinsurance business continues to attract investors
Posted by RJ & Makay on August 11, 2011
The recent spotlight on Transatlantic Holdings is drawing fresh attention to the reinsurance business. The potential for lucrative fees and quick returns has long made the sector a darling of Wall Street. In a typical year, reinsurers collectively write about $100 billion in new premiums. The amount earned ultimately hinges ...
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P/C insurance profit declines amid record surplus
Posted by RJ & Makay on June 22, 2011
Private U.S. property/casualty insurers’ net income after taxes declined to $7.8 billion in the first quarter of 2011 from $8.9 billion in Q1 2010, with insurers’ annualized rate of return on average policyholders’ surplus decreasing to 5.6% from 6.8%, according to ISO. Reflecting insurers ...
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