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EAIC increases scheme payment percentage
English & American Insurance Company Limited (EAIC) has increased its scheme payment percentage from 30 to 35 percent with effect from 25 April 2006.
08 May 2006
Moody's downgrades Wellington's 2020
Rating agency Moody's has downgraded the insurer financial strength rating of Wellington's Syndicate 2020 from A1 to A2.
08 May 2006
Record net Q1 operating income at RenRe
The positive first quarter for Bermudian (re)insurers continued when RenaissanceRe posted a record net operating income of $195.7mn, or $2.73 per share, up from $54.5mn, or $0.76 per share last year.
08 May 2006
Earnings up at Fairfax
Canadian combine Fairfax Financial Holdings reported first quarter earning of $172.1mn, or $9.47 per share, up from $35.2mn, or $2.03 a share for the prior year period.
08 May 2006
Willis reports rising Q1 earnings on flat revenues
Willis Group Holdings Ltd reported on the 3 May net income of $140mn, or $0.89 per share, for the first quarter of 2006, more than double the $67mn, or $0.41 per share, recorded in the prior-year period.
08 May 2006
PXRE deluged by shareholder lawsuits
Troubled Bermudian reinsurer PXRE Group Ltd has been deluged by shareholder suits alleging that the company misled investors by hiding the full impact of last autumn's hurricanes in its initial loss estimates.
08 May 2006
Beazley Exec calls for changes over catastrophe underwriting
Beazley Group plc's head of property Jonathan Gray has called for a back to basics approach to catastrophe underwriting last week, advising underwriters to rely more on their common sense and not to become slavishly dependent upon catastrophe models.
08 May 2006
NIIT acquires Room Solutions
London market IT provider Room Solutions has been bought out by the Indian-headquartered company NIIT Technologies Limited (NIIT). In an announcement today (8 May), the company said NIIT has...
08 May 2006
Traditional reinsurance remains compelling despite capital markets
Despite the capital market's growing appetite to assume risk, traditional reinsurance cannot be beaten for speed of access, according to speakers at an Insurance Insider event last week.
08 May 2006
Armenian Airbus underwritten in London
The Armenian Airbus that crashed into the Black Sea on 3 May was insured in the London Market by Lloyd's MSF Pritchard Syndicate 318.
08 May 2006
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