May 2006/1

US insurer WR Berkley reported a 34 percent rise in its first quarter net income from $121mn last year to $162mn in 2006. Net income was $0.84 per basic share and $0.80 per diluted share, up from $0.64 and $0.64 respectively for the same period in...

A year on, and start-up broker Integro Ltd admits it is still a long way from making a profit - but insists that was very much the game plan. The company's founding chief executive Roger Egan remarked last week: "We won't be profitable this year...

US insurer St Paul Travelers has reported a rise of almost 500 percent in its first quarter net income today (2 May) and announced a $2bn share buyback scheme. Net income was $1bn, or $1.45 per basic share and $1.41 per diluted share, for the...

Lloyd's insurer Atrium Underwriting plc announced pre-tax profits of £10mn for last year, 68 percent down on 2004's record return of £31.6mn. The company suffered from £26mn in net losses from last year's hurricanes, which also added 22 points to its..

Swiss reinsurer Converium received another boost when rating agency Moody's upgraded the outlook on its Baa1 insurance financial strength rating ratings from negative to stable. Moody's said: "Converium reported net income of US$68.7mn in...

Canadian energy company Suncor Energy Inc announced on 25 April it has agreed an $830mn settlement with insurers over business interruption (BI) claims arising from a major fire at its Oilsands facilities in northern Alberta last January.

Bermuda-based (re)insurer White Mountains Insurance Group reported a strong first quarter adjusted comprehensive net income of $117mn compared with $75mn for the first quarter of last year. The result benefited from a $21mn gain due to a foreign...

Platinum Underwriting reported a 41 percent fall, to $293.3mn, in its net written premiums for the first quarter of 2006. Net premiums also fell, by 16.2 percent for the quarter, to $344.3mn. Net income was up from $73mn for the first quarter...

Bermudian (re)insurer Aspen reported a 13.4 drop in its first quarter post-tax net income after reducing its catastrophe exposures. Post-tax net income was $61.8mn for the quarter, down from $70.1mn in the same period last year.

Bermudian reinsurer Montpelier Re reported a 34.7 percent rise in its first quarter net income, $48.5mn, or $0.54 per share, compared with $36mn, or $0.54 per share, for the same quarter last year. Net income excluding net realised and unrealised...

Bermudian (re)insurer Arch Capital Group reported first quarter net income of $129.6mn - up from the $115.9mn earned in the corresponding period of 2005. Operating income rose more significantly, from $111.9mn in the first quarter of...

Endurance Specialty yesterday (1 May) reported first quarter net income of $107.0mn, up from $96.3mn earned in the prior-year period. Operating income was $107.9mn, against $102.7mn in the first three months of 2005.