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.

Insurance broker Willis Group Holdings revealed it would be reducing its headcount by an extra 100 people as it announced its annual profits had grown to $449mn last year, compared to $281mn in 2005.

Aon Corp posted flat fourth quarter net income of $224mn with broking revenues up 7 percent to $1.5bn in its annual results.

It was a case of from one extreme to the other as XL Capital bounced back from 2005's record losses to report a record net income of $1.76bn for 2006.

Aspen Insurance reported records for both the year and the quarter, with net income of $378.1mn and $119.5mn respectively.

PartnerRe also reported record net income for 2006 on the back of the unexpected calm hurricane season.

"Gold-plated" reinsurance was key to the landmark $7bn deal between Equitas and Berkshire Hathaway according to Scott Moser, CEO of the Lloyd's run-off vehicle.

Giant US insurer American International Group's (AIG) Lexington Insurance Co has increased its capacity of commercial domestic property terrorism insurance to $250mn from $100mn.

Reinsurance broker Benfield Group has bolstered its Fac team again with the appointment of Michael Lazarus as head for Australia, New Zealand and South Africa.

Veteran London market figure Graham White was appointed as the new deputy chairman of Lloyd's by the Council of Lloyd's on 5 February.

Besso Holdings Ltd, the London market broker which is set to announce a leap in profits for 2006, has appointed an adviser to consider its offers which could involve the sale of its shares.

Market information and analysis firm Advisen Ltd has teamed up with messaging specialist Web Connectivity Ltd to launch, Easy Placement, a web-based software programme that enables brokers to...

Lloyd's insurer Beazley Group plc has announced that it will begin underwriting US commercial property business on an admitted basis.

Reinsurance broker Guy Carpenter has appointed Ajay Junnarkar as its chief financial officer as it seeks to "further its capital markets capabilities".

Giant Swiss insurer Zurich Financial Services Group (ZFS) has announced Peter Eckert, the group’s chief operating officer, is to retire at the end of the month.