International News for April 2003 ACE Limited Reports $247 Million Q1 Net Profit Swiss Re Appoints Jacques Aigrain as CIO; Replaces Giuseppe Benelli Swiss Re Asks PartnerRe to Register Shares for Sale Diekmann Takes over at Allianz; Schulte-Noelle to Head Supervisory Board XL Capital Posts $240 million Q1 Net Income S&P Says Taiwan’s General Insurers Return to Stability Converium Reports Decrease in Q1 Net Profit to $25.5 Million eReinsure Appoints James Low, Director of Business Development PartnerRe Previews Q1 Results; to Redeem Preferred Shares Liquidator Sees 10 to 20 Percent Payout to HIH Creditors Munich Re CEO to Step Down at Year End ING Closes Sale of Fatum in the Netherlands Antilles and Aruba, To Close Ho Chi Minh City Office ZFS Notes Dismissal of Holocaust Class Action Generali Reconfirms Top Executives, Appoints New Board Members World Struggles to Deal with Deadly SARS Virus Zurich Unit in Deal with the African Trade Insurance Agency Willis Group Posts $117 Million Net Q1 Income AIG Global Surety, National Indemnity to Provide Surety Facility for Large Creditworthy Contractors IPC Holdings Reports in Q1 Net Income Increased to $67.5 Million A.M. Best Affirms A- (Excellent) Ratings of Tryg-Baltica Insurance Group Everest Re Group Sells 4.48 Million Shares AlphaStar Wins “Film Finance” Appeal; Nasdaq May Delist Shares Best Reaffirms Ratings of Skandia Insurance Aegon Appoints Marc van Weede to Head Group Business Development S&P Says a “Shakeout” is Due in Thailand’s General Insurance Sector Everest Re Group Posts $104 Million Q1 After Tax Operating Income, Ups Earnings Forecast Arch Insurance Group Names Jerry Vasquez Managing Director of Offshore Energy Montpelier Re Expects Q1 Earnings Per Share Between $1.48 and $1.58 Willis Group Sells DRIVE to MVRA ACE Financial Solutions International Makes Appointments HIH Report Cites Mismanagement as Cause of Collapse German Gov’t Denies Lufthansa Terrorist Coverage XL Capital Ltd. Appoints McFate as Global Treasurer Swiss Re’s Africa Strategy Results in Name Change American Safety Group Ltd. Reports 4thQ, 2002 Year End Results Top Layer Reinsurance IFS Rating Affirmed by S&P’s S&P’s Says SARS Could Damage Health of Emerging Asian Companies IAMI Names Officers and Directors for 2003 Willis Group Forms Joint Venture to Grow in India Halifax Launches ‘Quote & Buy’ Car Insurance in Branches A.M. Best Places Ratings of Hannover Re, Subsidiaries Under Review Alea Group Announces Strong 2002 Performance Lloyd’s Chairman Calls for Equal Treatment Under U.S. Insurance Law Despite Market Turmoil, Co’s Still Buying D&0 Says Allianz Trenwick Announces Definitive Agreement with Senior Note Holders A.M. Best Affirms Rating of Wing Lung Insurance XL Capital’s Luck Chosen as APIW Woman of the Year AXA Shows $3.1 Billion 2002 Loss Under U.S. GAAP Rules Best Assigns Indicative “aa” Rating to Munich Re’s Subordinated Debt Issue Lloyd’s Chairman Blasts U.S. “Litigious Culture” S&P Lowers AEGON’s Ratings to ‘A+/A-1′ AXA Group to Make Changes in Supervisory Board Best Lowers Underwriter Insurance Company Rating to B++ (Very Good) Maranghi to Quit Post as Mediobanca CEO Benfield Adopts Single Brand Name ACE Launches New Communications Campaign Focused on Global Protection Japan’s Millea to Offer SARS Coverage Moody’s Lowers Munich Re Rating to ‘Aa3′ Hiscox Notes Increased Demand for Terrorism Coverage SCOR Increases Stake in IRP ACE International Appoints Kudret Oztap Head of Global Onshore Energy Operations S&P Ratings on Gerling to Remain on CreditWatch XL EVP Fiona E. Luck Named APIW 2003 Insurance Woman of the Year Arch Insurance (Bermuda) Increases General Property Capacity S&P, A.M. Best Take Rating Actions on Trenwick Lindsey Morden Agrees to Acquire RSKCo Services Gerling, HDI Break Off Talks Industry Applauds Lloyd’s Return to Profitability Equitas Settles Honeywell Asbestos Claims for $472 Million Trenwick Announces Default and “Agreement in Principle” with Note Holders for Extension inreon Announces New Expansion in Asia ESG Re Reports 2002 Third Quarter and Year End Results; 2001 Restatement Lloyd’s Announces Financial Results – $1.32 Billion Profit for 2002 SCOR Posts $496 Million* Loss for 2002 Lloyd’s Announces First Companies to Use “Project Blue Mountain” Best Affirms Gerling’s ‘A-’ (Excellent) Rating Platinum Underwriters Names Justin Cressall Treasurer International News Archives
Sign up to receive insurance news alerts!
Andrea WellsAgency Compensation Playbook: 2013 Agency Salary Survey
Andrew G. SimpsonHow Process Improvement Drives Agency Profitability
Stephanie JonesThe Acquisition Cycle
Don JerglerIndustry Predictions
Chris BurandReasonable Compensation
