February 2008/3
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Sustained profit performance bolstered by prior-year reserve releases emerged as a common theme among Bermudians reporting fourth quarter and full year 2007 results.
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Analysts continue to focus on uncertainty surrounding Bermudian giant XL Capital as the troubled (re)insurer reported fourth quarter earnings in line with last month's sub-prime loss fuelled profits warning.
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UK regulator the Financial Services Authority (FSA) has published its 2008/9 business plan, with a focus on "heightened supervisory oversight" in areas such as firms' liquidity, adequacy of stress testing and "general operational preparedness for unexpect
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Omega Insurance Holdings Ltd became the latest Lloyd's insurer mentioned as a possible M&A target after confirming last week that it is in talks with a "number of parties" over a potential takeover.
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Veteran Bermudian reinsurer RenaissanceRe is to launch its first cat bond to provide US all natural perils cover.
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The eagerly awaited 2007 electronic claims file (ECF) figures at the end of last month revealed that the Lloyd's market had missed the 100 percent year-end target for take-up despite a significant improvement in December.
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Catlin Group Ltd is poised to launch a second Newton Re cat bond providing $240mn of natural catastrophe perils coverage.
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The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is to be expanded for 2008 renewal, doubling available coverage to $100mn per peril.
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PARIS RE Holdings Ltd said today it had successfully migrated its portfolio of business from AXA RE onto its own paper at 1/1 renewal.
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German giant Munich Re has become the latest group to take advantage of the deregulated Brazilian market.
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Broking giant Willis Group disappointed analysts after recording weak organic growth despite strong earnings in the fourth quarter.
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US insurer WR Berkley Corp reported record net income of $744mn for 2007 despite seeing profits dip 7 percent in the final quarter.
