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S&P upgrades Arch to A
Rating agency Standard & Poor’s (S&P) has upgraded the financial strength ratings of Arch Capital’s operating subsidiaries from A- to A with a stable outlook citing the group’s “strong” enterprise risk management (ERM) as one of the reasons.
08 May 2007
‘OK’ quarter for White Mountains Re
Bermudian (re)insurer White Mountains Insurance Group reported an "OK" first quarter for 2007 with net income falling $4mn to $92mn.
08 May 2007
AXIS bucks trend with strong top-line growth
AXIS Capital Holdings Ltd (Axis) announced strong results for the first quarter 2007, citing new reinsurance business in the US and Europe as the main driver.
08 May 2007
Guy Carpenter sues Integro fac defectors
The heads of Guy Carpenter’s facultative reinsurance broking division GCFac who defected to rival Integro Ltd in April are set for an acrimonious legal dispute after their former employer filed lawsuits against them last week.
08 May 2007
Munich Re to buy back a further EUR2bn shares
Munich Re announced a widely anticipated expansion of its capital management programme, with plans to buy back more than EUR5bn shares by 2010 as it targets average rises in earnings per share of 10 percent through the period.
08 May 2007
Cooling off period delays SCOR offer
French reinsurer SCOR will open its public offer for Converium shares on 29 May in its protracted effort to takeover the Swiss-headquartered company.
08 May 2007
Americas drives Aon’s first quarter
Strong growth in the firm's Americas division propelled Aon Corp's first quarter 2007 earnings and helped offset a weak performance from the group's UK division.
08 May 2007
Glacier Re outlook improved to stable
AM Best has confirmed the A- (Excellent) financial strength rating and issuer credit rating of a- of Glacier Reinsurance AG (Glacier Re) and its wholly-owned subsidiary, Glacier Insurance.
08 May 2007
Industry learning to embrace ERM
Last week, Standard & Poor's (S&P) issued a ratings upgrade for Arch Capital's operating subsidiaries, citing Enterprise Risk Management (ERM) as a significant factor in the decision (see story 16).
08 May 2007
Florida hits RenRe top-line
The impact of legislative actions in Florida earlier this year was reflected in the top line shrinking by 18 percent at RenaissanceRe Holdings Ltd (Ren Re) as the reinsurer reported first quarter figures.
08 May 2007
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