March 2004/1
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AIG's glow dulled by criticism February was a memorable month for AIG and its legendary patriarch Hank Greenberg but not all for the right reasons. It started off well, as the Group revealed a "record" 68 percent leap in earnings. But subsequent events -
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Troubled French reinsurer SCOR revealed the extent events of the last few months have impacted its business prospects on 26 February, admitting 2004 gross premiums are likely to fall 29 percent in non-life and 11 percent in its life reinsurance unit. B
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Despite delivering consensus earnings and double-digit growth, Jardine Lloyd Thompson (JLT) saw its share price decline to close on Friday 27 February at 541p, down from 595.5p at the beginning of the month. Sellers of the stock appeared to be unnerve
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Aon's 2003 results were broadly in line with analysts' expectations, with net earnings growing by more than a third and positive work done on de-leveraging the balance sheet with more debt being repaid early. But despite this progress, operating earnings
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ZFS impresses, but rating agencies reserve judgment A year after booking a record $3.36bn loss blighted by equity write-downs, restructuring costs and reserve charges, Swiss giant Zurich Financial Services (ZFS) announced a return to a healthy $2.12bn ne
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AIG storms back The world's most valuable insurer AIG posted fourth quarter profits of $2.71bn, or $1.03 per share, with higher general insurance premiums and revenues contributing to the bottom line. Net income for the full year rocketed 68 percent t
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Swiss Re, AIG and others win battle against summary judgment A period of frenetic litigation came to a head last month in a court case brought by oil giant BP against Swiss Re, AIG, AXA, ACE, Aegis and other international insurers for their refusal to
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In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
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Berkshire Hathaway backed Lloyd's insurer Euclidian is considering an IPO that could value the firm at between £100mn-£150mn. The insurer, which underwrites via its Lloyd's Syndicate 1243 and a personal lines, Gibraltar based subsidiary, has approached
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At the time of going to press, the first round of Lloyd's Syndicate 2001 results were beginning to trickle through, as the Corporation's listed vehicles reveal their final figures under the three year accounting system and detail development on the 2002 a
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Judgment to examine whether excess of loss reinsurers can expect a 'duty of care' from direct insurers The long running Aon77 energy dispute, which has been in court since the end of 2003, is nearing resolution, with legal teams believed to be preparin
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Isle of plenty as start-ups continue to stride forward and the established set reaches maturity Arch rivals fellow start-ups Arch Re followed its fellow Bermudian post-9/11 start-ups by announcing a strident set of results on 17 February, booking net
