May 2005/3

CNA, the seventh biggest commercial insurer in the States, reversed its $124mn first quarter 2004 net loss into a $178mn profit this time around, and revealed it would restate results for the last three years after reviewing its relationship with...

World's biggest reinsurer Munich Re says it's on track to meet its 2005 earnings target after reporting a strong set of first quarter results, with after tax profits of EUR688mn up 26.7 percent on the first three months of 2004.

ACE reported first quarter net profits marginally down, making $433mn or $1.46 a share compared to the $447mn or $1.53 a share it recorded in the first three months of 2004.

Lloyd's insurer Heritage Underwriting Agency Ltd has urged its shareholders to reject an offer for 7.4 percent of the company's stock because it undervalues the company.

Advent Capital Holdings Ltd have appointed the stockbroking firm Numis Securities to float the Lloyd's reinsurer on the Alternative Investment Market (AIM) next month, The Insurance Insider can reveal.

Run-off reinsurer CX Reinsurance Company Ltd saw its surplus fall by a third last year as losses from its US professional liability exposures continued to hit the company hard.

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.