May 2006/1

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 Partner Re has unveiled a strong set of first quarter results, with net income of $193.1mn and operating income of $133.7mn, up from $111.4mn and $67.6mn respectively in the prior-year period.

Bermudian (re)insurance specialist IPC Re announced on 25 April that its net income rose by over 42 percent to $62.65mn for the first quarter of 2006. Net operating income rose by almost 60 percent to $75.26mn from the $47.16mn recorded in the prior...

Bermudian reinsurance ACE limited has announced a record net income of $489mn for the first quarter of 2006 despite an $80mn charge to cover an imminent settlement with regulators. Post-tax the charge wiped $66mn from ACE's net income, which rose 12...

Ratings agency Fitch announced on 25 April that it had begun operating from its new office in Dubai. Stephen de Stadler, Fitch's head of Business Development for the Middle East, said: "Fitch Ratings recognises that the economic growth currently...

London based broker Howden Group has appointed the former Aon Ltd operations director Neil Bullivant as its new operations manager.

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...

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...

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...

Bermudian giant XL Capital reported record first quarter income of $405.5mn, or $2.26 per ordinary share, last Tuesday (25 March). The company's combined ratio was 89.6 percent.

Everest Re has prompted fears of more hurricane pain for reinsurers after revealing further deterioration in losses from last autumn's storms in its first quarter results published last Monday (24 April).

Willis Group Holdings has parted company with Arlene Corsetti - only a year and a half after trumpeting her defection from rival broker Marsh Inc. Corsetti, the former managing director of Marsh's midwest operations, was one of the first high...