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Reserve releases dominate Montpelier Re’s 2010 underwriting income
Bermudian short-tail specialist Montpelier Re drew more than 97 percent of its 2010 underwriting income from reserve releases as claims came close to doubling
11 February 2011
Validus 2010 underwriting income down 46%, but Q4 strong
Validus saw its full-year underwriting returns deteriorate by 46 percent to $242mn after its loss expenses increased sharply
11 February 2011
AIG subsidiaries downgraded on reserves
Ratings agency Fitch has downgraded the insurer financial strength ratings of American International Group's (AIG) domestic non-life subsidiaries from A+ to A.
11 February 2011
UK and China deals help boost Scor 1.1 revenues 13%
Scor has increased its gross written premium for its 1.1 renewals by 13 percent to EUR 2bn as the French re(insurer) continues to gain from its recovering market position.
10 February 2011
Transatlantic expects up to $100mn first quarter Australia loss
Transatlantic Holdings expects to take pre-tax net catastrophe costs of between $50mn and $100mn in the first quarter as a result of Australian weather events including the Brisbane floods and Cyclone Yasi
10 February 2011
Ex-Omega CEO sues former employer
Former Omega Insurance CEO Richard Tolliday has filed a suit with the UK High Court to have his compensation case against his former employer heard in Bermuda, The Insurance Insider understands
10 February 2011
Analysts think Chaucer deal likely
The disclosure of another merger and acquisition (M&A) scramble for Chaucer this week (7 February) has not surprised many in the industry - with small- and mid-sized Lloyd's listed insurers currently viewed as attractive takeover targets
10 February 2011
Darag builds in Europe with Belgian run-off deal
German legacy buyer Darag has kept up its initial merger and acquisition pace into early 2011 with the takeover of the non-life portfolio of Belgium-based Quantum Insurance
10 February 2011
Zurich net income falls 13%
Global insurance giant Zurich Financial Services reported a 13 percent year-on-year drop in net income to $3.4bn for 2010, led by falling returns from its general insurance division
10 February 2011
Willis posts strong Q4; unveils fresh cost review
Like its rival Aon Corp earlier this week Willis posted credible fourth quarter earnings, including impressive growth in the global business that encompasses its specialty, London wholesale, reinsurance and advisory operations
10 February 2011
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