October 2003/5

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.

Although Brit Insurance Holding’s relatively low return on equity was criticised recently, the company’s strong capital base will stand the Lloyd’s based insurer in good stead against some of its more over-geared rivals, predicted the company’s house brok

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.

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.