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Cautious Flagstone Re paves 2009 profit
Flagstone Re turned around 2008 losses to post a net profit of $242mn last year, as it enjoyed strong underwriting and investment returns.
24 February 2010
Platinum strikes gold in Bermuda
Platinum Underwriters Holdings has added its name to a growing roll call of Bermudian (re)insurers with bumper full-year results, after posting a 77 percent increase in its net income last year.
24 February 2010
Axa profits quadruple despite drop in P&C earnings
French insurance giant Axa SA saw net profit almost quadruple from EUR923mn in 2008 to EUR3.61bn in 2009 - beating analysts' forecasts of EUR2.97bn - as it shook off the worst effects of the financial crisis.
24 February 2010
Arig shifts back to profit in 2009; warns on primary rates
Bahrain-headquartered reinsurer Arab Insurance Group (Arig) delivered net profits of $21.9mn in 2009, reversing a $28.6mn loss in 2008. However, reduced demand for reinsurance and falling rates stunted its top-line growth.
24 February 2010
Arch trebles profits despite shrinking top line
Arch Capital became the latest Bermudian (re)insurer to reveal a surge in net income in 2009 with more-than-threefold growth to $851.1mn despite a decline in premiums written.
24 February 2010
Partner Re gives $100mn back as investors reap capital returns
Partner Re has repurchased almost 1.5 million common shares valued at more than $100mn, as the capital management theme continues to dominate the sector.
24 February 2010
Gallagher buys Brazil broker
Expansive broker Gallagher International will open a facultative reinsurance operation in Brazil after purchasing local reinsurance broker Securitas Re.
24 February 2010
Alea finds Cloutier replacement
Run-off (re)insurer Alea Group has appointed Jeffrey Rosenthal as its new president and CEO to replace Mark Cloutier, who steps down on 31 March.
24 February 2010
PE firm hires former Ironshore CEO
Bob Deutsch, the industry veteran and founding CEO of Ironshore Inc, has joined the (re)insurance-focused private equity firm Greenhill Capital Partners as a managing director.
24 February 2010
Groupama mulls IPO
Jean Azema, CEO of Groupama, revealed the French mutual giant is considering a listing on the Paris stock market so that it will be in a position to make a significant acquisition.
24 February 2010
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