May 2006/1

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.

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...

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).

It is the last chance to join The Insurance Insider, and our illustrious panels of senior reinsurance executives, at two free-to-attend Post-Katrina briefing events in London later this week.

GoshawK Insurance Holdings plc, the UK parent of failed Bermudian reinsurer Rosemont Re, has had its shares suspended with immediate effect today (2 May).

UK regulator the Financial Services Authority (FSA) has fined Lloyd's broker Besso £20,000 for failure to apply for approval of a member of its management who had previous fraud convictions and is alleged to have gone on to commit fraud whilst at the...

All eyes will be on the global brokers' first quarter results later this week as concerns grow that Marsh Inc's brokerage revenues may have fallen for yet another quarter. The world's largest broker saw its revenues decline in all four quarters...

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...