Despite loss estimates of around $120 million from this summer’s floods in Germany and Eastern Europe, Bermuda’s PartnerRe had a relatively good third quarter, narrowing its net loss for the three months to $27.9 million from $338.5 million last year, …
An Italian court has dealt another blow to the ongoing merger plans between SAI and La Fondiaria, aimed at forming the country’s third largest insurance group. This week’s ruling overturns a finding by Consob, the Italian Stock market regulative body, …
France’s SCOR Group, which recently warned that it expected to post a net loss of around 250 million Euros ($247 million) for 2002 (See IJ Website Oct. 30), responded to the actions of the various rating agencies with a statement …
Arch Insurance Group, a division of Bermuda-based Arch Capital Group Ltd., announced that Lesley Andrea Heath Harding has been named as senior executive of the UK subsidiary which will act as Arch’s representative office in London. She also became the …
CNA Financial Corporation announced that it has completed the sale of its London reinsurance operation, CNA Reinsurance Company Limited (UK), to Tawa UK Ltd., a subsidiary of Artemis Group, the diversified French holding company, which controls the various operations of …
Standard & Poor’s Ratings Services announced that it has affirmed its single-‘A’ long-term insurer financial strength and counterparty credit ratings on the French mutual insurance group Caisse Centrale des Assurances Mutuelles Agricoles (CCAMA) and related entities, together known as “Groupama,” …
California-based Risk Management Solutions, Inc. (RMS), announced that the windstorm, designated Jeanett, which has hit the U.K., France, and the rest of northern Europe over the last several days may cause up to 1 billion Euros ($983 million) in damages. …
Bermuda’s XL Capital Ltd’s third quarter results seem to have trumped rival ACE Limited with a reported net income available to ordinary shareholders for the quarter ended September 30 of $184 million, or $1.34 per share, compared with a net …
Two weeks before its first birthday Bermuda-based Allied World Assurance Holdings, LTD reported net income of $40.9 million for the third quarter and $84.9 million for the nine months ended September 30, 2002. The company commenced business on November 13, …
Bermuda-based Trenwick Group Ltd. announced today that it will cease underwriting U.S. specialty program insurance business effective immediately. The news follows the announcement of an agreement to create an underwriting facility with Chubb Re, and a review of the company’s …
