Reinsurance News

Aspen Reports Q4 After-Tax Net Income of $67.2 Million

Bermuda-headquartered Aspen Insurance Holdings Limited reported net income after tax of $67.2 million, or $0.90 diluted net income per share, for the fourth quarter of 2014. This compares to net income after tax of $90.0 million, or $1.21 diluted net income per share, for …

A.M. Best: Europe’s Largest Cedants Alter Reinsurance Purchasing Practices

Europe’s 20 largest cedants are benefiting from lower reinsurance rates and stronger bargaining power, resulting from a trend that saw increasing centralized reinsurance purchasing at a group level. A new report from A.M. Best states that reinsurance rates in Europe remain under …

Everest Re Group Reports $340.1 Million Q4 Net Income; $1.2 Billion for Year

Bermuda-based Everest Re Group Ltd. reported fourth quarter 2014 net income available to common shareholders of $340.1 million, or $7.47 per diluted common share, compared to net income of $364.6 million, or $7.54 per diluted common share, for the fourth …

PartnerRe Reports Q4 Net Income of $262.7 Million; $998.2 Million for Year

PartnerRe Ltd. reported net income of $262.7 million, or $5.26 per share for the fourth quarter of 2014. This includes net after-tax realized and unrealized gains on investments of $82.1 million, or $1.64 per share. Net income for the fourth …

Munich Re Raises Dividend Even After 4th Quarter Profit Declines 42%

Munich Re, the world’s biggest reinsurer, plans to raise its dividend even after fourth-quarter profit declined 42 percent on investments and goodwill impairments. Net income fell to about 700 million euros ($794 million) from 1.2 billion euros a year before, …

Hannover Re: Capital Markets Are ‘More Friend Than Foe’ to Reinsurers

Pension and hedge funds flush with cash and hungry for yield are creating a market for reinsurers willing to look past the price cuts these investors have inflicted on traditional catastrophe coverage. The growth of insurance-linked products that allow investors to participate …

PartnerRe Stock Jumps on Report That SCOR, Alleghany Are Weighing Bids

PartnerRe Ltd. jumped in New York trading after “Insurance Insider” reported that the reinsurer, which agreed last month to merge with Axis Capital Holdings Ltd., might draw bids from rivals to break up the deal. Alleghany Corp. and France’s SCOR SE …

AXIS Capital Reports Q4 Operating Income of $120 Million, $563 Million for 2014

 AXIS Capital Holdings Limited reported a net income available to common shareholders for the fourth quarter of 2014 of $164 million, or $1.60 per diluted common share, compared with net income of $172 million, or $1.52 per diluted common share, …

XL’s McGavick Says Defectors May Find More Turmoil at New Jobs

XL Group plc Chief Executive Officer Mike McGavick said employees who are worried about disruption from his company’s planned purchase of Catlin Group Ltd. should think twice about jumping ship. Other reinsurance deals, including last month’s agreement by AXIS Capital Holdings …

XL Group Reports $293.9 Million Q4 Net Income; $999.2 Million for 2014

XL Group plc reported its fourth quarter and full year 2014 results. Highlights include: Operating net income of $293.9 million, or $1.12 per share, for the fourth quarter of 2014, compared with $286.9 million for the same period in 2013. Operating net …