March 2007/3
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"Class of 2005" insurer Lancashire Holdings revealed it is targetting premium growth of at least 20 percent in 2007 as it reported better than expected earnings per share of 40.9p - 9.1 percent ahead of analysts' consensus.
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Lloyd's insurer Atrium Underwriting plc said its full-year results would be "materially ahead of current market expectations" after it improved its syndicate forecasts.
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UK general insurer Royal & Sun Alliance (R&SA) saw its 2006 results slip into the red following the successful completion of the sale of its legacy US business, Arrowpoint Capital.
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Lloyd's insurer Beazley Group plc joined its London rivals in benefiting from 2006's favourable conditions as it announced a rise of over 500 percent in its pre-tax profits.
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The decision of Lloyd's insurer Hiscox Ltd to open a Bermudian underwriting platform has "paid off handsomely", according to Robert Hiscox, the firm's chairman.
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Catlin Group has agreed to pay £16mn to Names who traded Wellington capacity in the Lloyd's auctions last year before the two insurers announced they were in takeover talks.
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Benfield Group said Florida's decision to near double its hurricane catastrophe bond will cost the group an estimated £10mn in trading profits this year.
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Benfield Group will treat the £9.525mn which Aon Re has agreed to pay to settle the litigation springing from the defection of a key producing team as an exceptional item this year.
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Markets responded in mixed fashion to the UK-listed insurers last week as consensus-beating figures didn't always translate to corresponding share performance.
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Aquiline Capital Partners LLC, the private equity firm headed by the former MMC chief executive Jeffrey Greenberg, has raised $1.1bn in capital for its initial fund, the Aquiline Financial Services Fund LP.
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Western Australia has been hit by two cyclones, George and Jacob, over the past few days as the warning signs to (re)insurers that the wind could return with vengeance this year continue.
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Willis Re has appointed the ex-Aon executive Donald MacDonald to become deputy managing director of its UK Reinsurance unit.