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February 2004/4
  • Euclidian appoints Holland
    Lloyd’s insurer Euclidian has bolstered its senior management by appointing former Brit chief operating officer Andrew Holland as chief executive.
    16 February 2004
  • Hannover Re upgraded by BNP Paribas
    Hannover Re’s upbeat assessment of 2004 renewals has encouraged the French bank BNP Paribas to upgrade its outlook on the German reinsurer.
    16 February 2004
  • PXRe: catastrophe and risk excess contribute to bottom line
    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.
    16 February 2004
  • Montpelier results balloon
    Bermuda based Montpelier Re reported net income of $99.9mn for the final quarter, which helped the reinsurer unveil full year net earnings of $407.1mn for 2003.
    16 February 2004
  • Higher premiums boost Berkley
    Specialty insurance holding company WR Berkley announced an increase in its fourth-quarter profits on the back of higher premiums.
    16 February 2004
  • XL looks to the future with ‘03 results
    A fourth quarter deficit was inevitable for the Bermudian giant XL Capital after a previously announced pre-tax charge of $694mn, and the operating loss of $2.54 per share was roughly in line with analysts’ expectations (First Call consensus $2.51).
    16 February 2004
  • CNA beats earning estimates
    Struggling insurance group CNA provided a fillip to its de facto owners, the Loews Corporation, after reporting its first below 100 percent combined ratio for the fourth quarter – the first time for more than four years.
    16 February 2004
  • Swiss Re holds strong at renewals with 7 percent growth
    Further rate increases and winning new businesses enabled reinsurance giant Swiss Re to grow premiums by 7 percent at the recent 1 January renewals.
    16 February 2004
  • Overriders face examination
    The opaque but growing trend of brokers charging payments from insurers to place business with them has been attacked by an influential US think tank as “potentially damaging”.
    16 February 2004
  • Guy Carpenter launches D&O risk model
    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
    16 February 2004
  • Sampo branches out into non-life
    Finnish insurer and banker Sampo has said it will buy a controlling stake in non-life insurer If.
    16 February 2004
  • IPC hits 34.9 percent combined ratio
    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.
    16 February 2004
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