February 2004/4

Aon’s 2003 results were broadly in line with analysts’ expectations, with net earnings growing by more than a third and positive work done on de-leveraging the balance sheet with more debt being repaid early. But despite this progress, operating earnings

Marsh reinsurance broking arm Guy Carpenter has launched the industry's first model for predicting the frequency and severity of class action law suits related to securities, which account for the majority of Directors and Officers (D&O) claims for insure

Finnish insurer and banker Sampo has said it will buy a controlling stake in non-life insurer If.

Lloyd’s insurer Euclidian has bolstered its senior management by appointing former Brit chief operating officer Andrew Holland as chief executive.

Research from the London Market Principles (LMP) Programme Office, shows that brokers expect to place 95 percent of their open market business on LMP slips.

Lloyd’s insurer Wellington Underwriting plc provided evidence that 2003 will be an excellent underwriting year for the Society when revealing last week that its Syndicate 2020 should make a profit of between 11 and 18 percent of capacity.

IPC Holdings Ltd celebrated its 10th anniversary last year but, upon revealing its results for 2003, showed investors it can still carve out book value growth as impressive as many of the younger Bermudians.

Hannover Re’s upbeat assessment of 2004 renewals has encouraged the French bank BNP Paribas to upgrade its outlook on the German reinsurer.

Shares in French reinsurer SCOR fell last week after the company revealed that its sales had fallen by a quarter last year, leading to fears that key customers have deserted the embattled firm despite attempts to turn the company around.

The Navigators Group has announced that it expects it will record a net $31.6mn pre-tax charge on the back of higher than expected asbestos related losses.

Bermudian (re)insurer PXRe said on Wednesday (Feb 11, 2004) that its fourth-quarter net income had risen 71 percent from a year earlier, on the back of growth in its core catastrophe and risk excess lines of business.

Bermudian newcomer Axis announced a 100 percent increase in net income for the year ending December 31, 2003, to $532.3mn, or $3.42 per diluted share. This compared to net income of $265.1mn, or $1.91 per diluted share, for the year ended December 31, 200