Prudential Plc , the British insurer buying American International Group Inc.’s main Asian unit, may seek to increase its capital reserves by 1 billion pounds ($1.5 billion) to win approval from U.K. regulators for the purchase, said a person with knowledge of the matter.
Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, raised 787 million pounds ($1.3 billion) in an initial public offering of its insurance unit forced by European Union regulators.
Hiscox Ltd., the second-biggest Lloyd’s of London insurer by market value, plans to return 200 million pounds ($303 million) to shareholders after pretax profit surged more than 12-fold. The shares jumped.
Beazley Plc rose in London trading after 2012 profit beat analysts’ estimates and the Lloyd’s of London insurer said it plans to pay investors a special dividend that matches its usual payout for the year.
Catlin Group Ltd., the second-largest Lloyd’s of London insurer by market value, reported lower-than- estimated pretax profit for 2012 on claims related to Hurricane Sandy and the shipwrecked Costa Concordia.
Aviva Plc, the U.K.’s second-biggest insurer by market value, swung to a first-half loss after writing down its U.S. arm by 876 million pounds ($1.4 billion) and said restructuring costs will increase.
Royal Bank of Scotland Group Plc, the U.K.’s largest state-owned lender, will push ahead with the initial public offering of its insurance unit even after Talanx AG, Germany’s third-biggest insurer, pulled its IPO this week.