• X
  • LinkedIn
  • Email
  • Show more sharing options
  • X
  • LinkedIn
  • Email
  • Free trial
  • Log in

March 2006/4
  • Independent CEO faces 2007 fraud trial
    Michael Bright, the colourful founder of collapsed UK insurer Independent Insurance, will face trial on charges of conspiracy to defraud at a trial starting after Easter 2007, a preliminary hearing at Southwark Crown Court heard today (24 March).
    24 March 2006
  • Hardy profits from underwriting
    Lloyd's insurer Hardy bucked the trend of underwriting losses when it reported profits of £7.5mn for 2005 on 22 March, underpinned by a positive underwriting result of £6.3mn.
    23 March 2006
  • Hannover Re reveals small profit despite EUR800mn KRW bill
    A EUR1bn bill from last year’s natural catastrophes – including almost EUR800mn from Hurricanes Katrina, Rita and Wilma (KRW) – dragged Hannover Re’s net income down from 2004’s 279.9mn to EUR49.3mn.
    23 March 2006
  • Fairfax shares slump after more SEC subpoenas
    Shares in Canadian combine Fairfax Financial Holdings have dropped almost 15 percent percent on the New York Stock Exchange (NYSE) today (22 March).
    22 March 2006
  • Investment income boosts SCOR profits
    Strong investment income helped French reinsurer SCOR continue its recovery as it recorded a 22 percent increase in 2005 operating profits to EUR242mn, along with a 75 percent increase in net profit to EUR131mn.
    22 March 2006
  • Wellington: reinsurance costs rise
    Wellington Underwriting plc says its reinsurance costs have risen substantially after restructuring its programme following Hurricane Katrina last year. The Lloyd's insurer posted a full-year pre-tax loss of £26.2mn for 2005 as the devastating storm...
    21 March 2006
  • Guy Carpenter appoints executive chairman
    Reinsurance specialist broker Guy Carpenter has appointed Ray Carless as executive chairman of its Australia, New Zealand and Pacific operations. The role will be based in Sydney and will report to Martin Burrough, CEO of the Asia Pacific region.
    20 March 2006
  • Profits nearly double at Allianz AG
    German insurer Allianz AG almost doubled profits last year, it announced on 16 March. Net income for 2005 was up to EUR4.38bn, a 93 percent rise from the previous year’s EUR2.66bn. Total revenues rose by 4.2 percent from EUR96.9bn in 2004 to...
    20 March 2006
  • Munich Re EUR2.7bn record profit driven by investment gains : Reinsurer considers share buybacks as capital surplus grows
    Strong investment performance enabled German giant Munich Re to shrug off its hurricane losses and post record profits of EUR2.7bn for 2005, increasing its dividend 55 percent to EUR3.10 as it raised the prospect of an “active capital management”...
    20 March 2006
  • Converium comeback continues with profitable 2005
    Swiss reinsurer Converium announced on 15 March net income of $68.7mn for 2005, with $34.2mn added to the total during the final quarter. The fourth quarter figure beat some analyst’s forecasts by close to $30mn, and provided a solid start for the...
    20 March 2006
  • Independent due in court
    A preliminary hearing at Southwark Crown Court on Friday 24 March is expected to set the trial date for three former directors Independent Insurance who are charged with conspiracy to defraud. As stated by the Serious Fraud Office, former chairman...
    20 March 2006
  • R&SA stock “expensive” say analysts
    Despite raising earnings expectations on improved prospects at UK insurer Royal & Sun Alliance (R&SA), analysts at Morgan Stanley believe the company’s stock is overvalued. Equity analysts Jon Hockling and Kathy Fear increased 2006 earnings forecasts..
    20 March 2006
Load more

Most Recent