February 2007/2

Fuelled by its acquisition of GE Insurance Solutions (GEIS), Swiss Re reported a 14 percent increase in business at the January renewals, the equivalent of SFr1.3bn.

Endurance Specialty Holdings Ltd booked year-on-year premium growth in excess of 10 percent as it reported 2006 net profits of $498.1mn and record annual return on equity (ROE) of 25.6 percent.

John Charman's AXIS Capital Holdings Ltd beat consensus estimates and reported record results for last year on the back of the benign catastrophe season.

The first sign of the magnitude of last month’s Florida legislation for reinsurers emerged with Bermudian RenaissanceRe paring back growth targets for 2007 managed property cat reinsurance by 20 percent...

Novae Group plc, the UK quoted insurer that has been rebuilding following the devastation caused by its financial and professional indemnity losses between 1997-2002, pleased shareholders today...

German reinsurer Hannover Re reported premium growth of 2 percent in its total property and casualty reinsurance portfolio for the January renewals.

French reinsurer SCOR has said that following last year’s rating upgrades into the crucial “A” territory it has “largely recovered its shares of business lost in 2002-2003”.

The growing interest amongst investors for exposure to the insurance sector has encouraged rating agency Fitch Ratings to form a new group that will rate all forms of insurance-linked securities (ILS).

Beleaguered Bermudian reinsurer PXRE is facing termination charges of up to $60mn on cat bonds and reinsurance contracts if, as expected, it goes into run-off.

Ironshore Insurance Ltd, the Bermuda-based $1bn insurer formed by the father-and-son team Bob and John Clements at the tail end of last year, has received an A- (Excellent) rating from AM Best.

Bermudian firm Max Re Capital reported a fourth consecutive profitable year on the back of record fourth quarter net income.

Numis Securities lowered its earnings forecast on the UK-headquartered broker Jardine Lloyd Thompson Group plc (JLT) and reiterated its sell recommendation on the company's stock.