American International Group Inc.’s mortgage insurer, United Guaranty Corp., is seeking to raise about $700 million to $800 million as it sells shares to the public, according to people familiar with the matter. If successful, the offering would give United Guaranty a market value of about $4 billion, said the people, who asked not to […]

RSA Insurance Group Plc Chief Executive Officer Stephen Hester says the company, which was the subject of an abandoned 5.6 billion-pound ($8.1 billion) takeover offer, is now much more valuable for any future owner. The insurer reported on Thursday an 8 percent increase in written premiums for core business units in the first quarter and said […]

RSA Insurance Group today reported operating profits rose in the first quarter of 2016, as the company’s plans to slim down by disposing of overseas businesses starts to reach its final stages. Shares in the company were trading up two per cent at 478.7p shortly after 10am London time. The figures Net written premiums for the total group […]

The wildfires spreading around Canada’s oil-sands hub of Fort McMurray may become the costliest catastrophe in the country’s history with losses potentially reaching C$9.4 billion ($7.3 billion). Insurance losses could reach that high if nearly all homes, cars, and businesses in the Fort McMurray area were destroyed and owners filed a claim to insurers, according to […]

Manulife Financial Corp., Canada’s largest life insurer, reported a 45 percent gain in first-quarter profit after benefiting from interest-rate movements and record insurance sales in Asia. Net income was C$1.05 billion ($820 million), up from C$723 million in the year-ago period, the Toronto-based company said in a statement Thursday. Profit excluding some items was 44 cents a […]

  Curtis Banks is eyeing more deals for life company Sipp books, according to its chief executive Rupert Curtis. Speaking with New Model Adviser®, Curtis (pictured) said that taking on Sipp books from life companies could be something we see more of going forward. ‘There are more companies selling out there than buying and we see […]

Platform sales boosted Old Mutual Wealth in the first three months of 2016, as a strategic review which could see the company sold kicked off. In March, Old Mutual began a strategic review of its businesses with the intention of separating the divisions into separate companies by the end of 2018. This would see Old Mutual Wealth sold or […]

Nedbank Group Ltd., the South African lender being spun out of Old Mutual Plc, said first-quarter net interest income expanded at least 10 percent, boosted by the country’s highest interest rates in six years. The net interest margin for the period ended March widened from December’s 3.3 percent, the Johannesburg-based lender said in a statement […]

Royal London has pulled out of a bid for Axa Wealth’s protection business SunLife, Money Marketing can reveal. In February the mutual entered second round talks to buy the over-50s cover business from the insurer – which is splitting up its UK life operations – but it is understood the firm has walked away from a deal. […]

MetLife Inc., the largest U.S. life insurer, posted first-quarter profit that missed analysts’ estimates as investment income declined on a slump in hedge fund holdings. Net income rose 2 percent to $2.2 billion from $2.16 billion a year earlier, bolstered by gains on derivatives, the New York-based insurer said Wednesday in a statement. Operating profit, which excludes […]