All material subject to strictly enforced copyright laws. © 2021 Insurance Insider is part of Euromoney Institutional Investor PLC.
Accessibility | Terms & Conditions | Privacy Policy | Modern Slavery Act | Cookies

October 2003/5

  • Quoted Lloyd’s insurer Chaucer Holdings Plc will take over the business and management of Kiln’s professional liability Syndicate 1204, subject to Lloyd’s approval.
  • Catlin Group Ltd, the Bermudian parent of blue-chip Lloyd’s insurer Catlin Underwriting Agencies, continued to bolster its management team last week with three new non-executives appointed to the board.
  • Broker Willis announced record 2003 third-quarter results last week on the back of strong revenue growth.
  • Everest Re Group announced a 64 percent increase in quarterly net income last week, helped by higher premium rates. The Bermuda-based reinsurer said gross premiums written for the third quarter of 2003 were $1.24bn, a 75 percent increase on the $708mn
  • More strong results from Bermuda. This time RenaissanceRe reported better than expected earnings in its 2003 third-quarter results last week.
  • IPC Holdings last week reported net income of $62.1mn for the quarter ended September 30, or $1.29 per share, compared to $45.8mn, or $0.95 per share, for the third quarter of 2002.
  • Despite publishing an improved outlook, Moody’s was again on the receiving end of criticism from Hannover Re, last week.
  • Bermudian life reinsurer Scottish Re Group Ltd has agreed to pay $151mn cash for 95 percent of Employers Re’s life reinsurer, ERC Life Reinsurance Corporation.
  • Marsh and McLennan, the parent of the world's largest insurance broker Marsh, saw its share price fall this week despite the company posting a 19 percent rise in quarterly profits on the 21 October.
  • Bermuda’s new financial guaranty reinsurer – backed by RenaissanceRe, Partner Re, Koch Financial and MBIA – will be called Channel Re.
  • American International Group (AIG) posted record profits for the third quarter of 2003 last week despite higher catastrophe losses and a $2bn increase in reserves.
  • Embattled Lloyd’s insurer Goshawk saw AM Best affirm the A- (excellent) financial strength rating of its Bermudian reinsurance subsidiary GoshawK Re, last week.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree