Standard & Poor’s Ratings Services announced that it has revised its outlook on Montpelier Reinsurance Ltd. and Montpelier Re Holdings Ltd. (MRH) to positive from stable. “The outlook was revised to reflect our increased confidence level that Montpelier has made …
RenaissanceRe Holdings Ltd., Bermuda’s premier property reinsurer, announced fourth quarter and full-year earnings that fully reflect both the strong market – net premiums written increased to $1.349 billion from $1.154 billion in 2003 – and the impact of the Florida …
A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of South Korea’s LG Insurance Company Limited with a stable outlook. “The rating reflects LG Insurance’s excellent market profile, flexible liability structure and the short-tailed …
Bermuda-based Max Re Capital Ltd. announced that its subsidiary, Max Re Ltd., has made the following appointments in its reinsurance division: — John Doucette has been appointed president and chief underwriting officer. His responsibilities will include overseeing all underwriting activities, …
The Barbados-based Imagine Group announced that its subsidiary, Imagine Insurance Company Limited, has completed the acquisition of Danish Re (Bermuda) Ltd. and all related subsidiaries of the Danish Re Group worldwide. The transaction was effective December 31, 2004 but has …
The Swiss-based reinsurer Converium announced that its Board of Directors has appointed Terry G. Clarke as Chief Executive Officer of the Group with immediate effect. He succeeds Dirk Lohmann, who weathered Converium’s “perfect storm” – increased reserves, ratings downgrades and …
Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and financial strength ratings on Nisshin Fire & Marine Insurance Co. Ltd. to “BBB+” from “BBB”, after Tokio Marine & Nichido Fire Insurance Co. Ltd. (AA-/Stable/–) …
Springfield, Ill.-based Horace Mann Educators Corp. reported net income of $26.7 million for the fourth quarter of 2004, and $54.7 million for the year. This compares to net income of $23.1 million in the fourth quarter of 2003 and $19 …
Intensifying an investigation into illegal sales-related insurance practices, Ohio Insurance Director Ann Womer Benjamin has named Robert Smith, a veteran white-collar crime expert, to lead the department’s investigation. Smith will report to Womer Benjamin. “This investigation is a department priority,” …
Hilb Rogal & Hobbs Company reported total revenues for the fourth quarter of 2004 were $159.9 million, compared with $142.7 million a year ago, representing a 12 percent increase. However, net income declined 21 percent for the quarter to $15.3 …
