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2008 losses send Advent to £5.5mn 1Q loss
Lloyd’s (re)insurer Advent Capital Holdings plc fell to a first quarter pre-tax loss of £5.5mn as it was hit by the succession of heavy industrial catastrophe losses this year, together with deterioration on the 2005-07 underwriting years.
28 April 2008
Zurich expands M&A office
Zurich Financial Services Group has grown its M&A practice through the opening of a London office.
28 April 2008
QBE launches Singapore operation
Australian insurer QBE has increased its presence in Asia after establishing an underwriting operation in Singapore under the Lloyd's Asia license.
28 April 2008
New chief for Market Reform Group
Peter Harmer, CEO of Aon UK, is to become chairman of the London Market Reform Group (MRG).
28 April 2008
Everest Re Q1 profits shrink after underwriting shortfall
Everest Re Group saw profits plummet over $200mn in the first quarter of 2008 to $77.9mn compared to the same period last year.
28 April 2008
Cat losses hit Travelers Q1 results
The Travelers Companies Inc is that latest insurer to reveal it has been affected by an increase in catastrophe losses in 2008's first quarter results.
28 April 2008
Profits drop at Safeco
US insurer Safeco Corporation, which last week agreed to a takeover by rival Liberty Mutual, reported a drop in quarterly profits for the fifth consecutive quarter as higher cat losses and lower premium income took a toll.
28 April 2008
Asian renewals follow rate downturn trend: GuyCarp
Rates in South Korea have dropped by as much as 20 percent, reflecting a global trend in rate reductions, according to Guy Carpenter & Co's review of the April reinsurance market.
28 April 2008
IPCRe sees limited impact from large risk losses
Bermudian cat specialist IPCRe reported a rise in first quarter net operating profits from $68.5mn to $92.8mn, despite an active period for natural catastrophe and large risk losses.
28 April 2008
Arch profits fall as large risk losses mount
Bermuda's Arch Capital Group Ltd has reported a fall in first quarter net profits from $198.6mn to $189.4mn as the combined ratio in its insurance business rose as a result of large risk losses.
28 April 2008
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