A.M. Best Co. announced that it has affirmed the A-(Excellent) financial strength ratings of Denmark’s Tryg-Baltica Insurance, International Insurance Company (TBI), and its London-based subsidiary Tryg-Baltica International (UK) Limited (TBI-UK). The rating agency also said that it has removed the …
AXIS Specialty Limited, one of the largest of Bermuda’s new insurers, announced that it produced $92.1 million in net income for the third quarter and $153.8 million for the nine months ended September 30. The company, established late last year …
Standard & Poor’s Ratings Services announced that it has revised its outlook on Switzerland’s Converium Group to negative from stable, while reaffirming its single-‘A’-plus long-term counterparty credit and insurer financial strength ratings. The major companies involved are the parent, Converium …
Bermuda’s XL Capital Ltd. announced that it has completed the integration of the Singapore branches of its subsidiaries XL Re Ltd. and Le Mans Re into a single branch to be headed by Scott Ryrie, General Manager – Asia Pacific, …
The ongoing dispute between Eureko, the Pan-European insurance consortium, and Poland’s Treasury Minister Wieslaw Kaczmarek over the control of Powszechny Zaklad Ubezpieczen (PZU) has been submitted to formal arbitration proceedings before an international tribunal in Stockholm. The conflict, which has …
Bermuda-based IPC Holdings, Ltd. joined the growing number of reinsurers celebrating a good third quarter, as the company announced that its net operating income, which excludes net realized gains and losses, was $46.6 million or $0.97 per share, for the …
ACE Tempest Re Europe announced the appointment of Eric Gutierrez as European Treaty Underwriter in their newly opened underwriting division in Dublin. he’ll be responsible for developing property and casualty treaty business in the Mediterranean region of Europe, including France, …
Swiss Re and the other insurers involved in the World Trade Center coverage dispute with master leaseholder Silverstein Properties, have released the comprehensive engineering study they commissioned to determine the causes of the twin towers’ collapse following the Sept. 11 …
Increases in premiums and higher demand for reinsurance seems to be offsetting falls in equity values, as two of Bermuda’s leading reinsurers, RenaissanceRe and Everest Re, posted strong third quarter results. RenRe’s operating earnings per common share grew to $1.14 …
California’s Risk Management Solutions (RMS), announced that it has initiated the daily publication of weather market price data and the release of “mark-to-market functionality in version 3.2 of its Climetrix(TM) weather derivatives trading and risk management system.” “Together, these developments …
