Swiss reinsurer Allied World Assurance Co., which has Farmington operations, said a steep drop in catastrophe losses helped it book $137.9 million in fourth-quarter profits, reversing a $41.1 million loss a year earlier.
Swiss insurer Allied World Assurance Co. Holdings AG, with Farmington operations, will proceed with its dividend despite falling into the red in the fourth quarter.
Allied World Assurance Co., the Swiss reinsurer with Farmington operations, is buying a minority stake in New York private equity firm MatlinPatterson, who will gradually oversee $500 million of Allied World's securities portfolio, authorities say.
Swiss reinsurer Allied World Assurance Co. Holdings AG, which has Farmington operations, said it expects to record about $40 million in crop reinsurance related losses in the third quarter as a result of the severe drought conditions in the Midwest United States, Reuters reports.
Swiss insurer Allied World Assurance Holdings, with Farmington operations, signed a larger, more flexible credit line for up to $600 million with a bank syndicate, a regulatory filing shows.
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