February 2005/3

Canadian combine Fairfax Financial Holdings painted a mixed picture of its fortunes last week by announcing 2004 fourth quarter net earnings of $5.6mn, undercut by a net loss of $17.8mn for the full year. Despite this, the company insisted it “ended the y

Swiss Re echoed the upbeat message of Hannover Re today (14 February) with chief financial officer Ann Godbehere saying: “The hard market is definitely not over”

Bermudian giant XL Capital had its positive fourth quarter and year-end earnings release marred last week by an announcement from rating agency Fitch that it may slash the company’s debt ratings.

Fallout from WTC litigation continued apace last week when a federal appeals court ruled that the janitorial service for the buildings destroyed in the 9/11 attacks could claim as much as $127mn from Zurich American Insurance Co on its business interrupti

2004’s status as a record year for catastrophe losses was underlined last week when figures released by ISO’s Property Claim Services (PCS) unit revealed that US P&C insurers paid out $27.3bn in claims to homeowners and businesses over the course of the y

Bermuda headquartered (re)insurer PartnerRe has reported net income of $143.7mn, or $2.54 per share on a fully diluted basis, for the fourth quarter of 2004.

French reinsurer SCOR has revealed the extent to which its business declined in 2004. In its full year earnings release the company unveiled a litany of decreases in the amount of business written since its financial strength ratings were slashed in 20

US insurer CNA surprised its cassandras with an upbeat fourth quarter which included a 75 percent rise in profits.

David Priebe, the president of Guy Carpenter Europe, has replaced Keith Fenwick as the chief executive of Guy Carpenter’s UK operations.

Later this week, the reinsurance industry will finally discover the impact last year’s reserving woes have had on Converium’s business.