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Marsh grows earnings despite falling revenues
Global brokers continuing to toil in competitive post-Spitzer landscape MMC chief executive Michael Cherkasky pointed to the green shoots of recovery in his company’s first quarter results, but it was also apparent that the global brokers are still...
04 May 2006
International news digest - May 2006
ACE settles for $80mn; Willis parts company with Marsh defector; Allianz launches US aviation operation; Insured Q1 US losses at $1.38bn; Fortress Re founder dies; Rivera joins Fox at Praetorian; Insurers in $830mn Suncor BI settlement; et al...
04 May 2006
Lloyd’s insurer considers AIM float; plans new syndicate
Lloyd’s insurer Heritage Underwriting Agency plc has announced plans to form a new syndicate together with a listing on the Alternative Investment Market, The Insurance Insider can reveal. The new syndicate – which will write alongside the insurer’s...
03 May 2006
MMC profits on falling revenues
MMC chief executive Michael Cherkasky pointed to the green shoots of recovery in his company’s first quarter results today (3 May), but it was also apparent that the global brokers are still operating in a brutally tough trading environment.
03 May 2006
Atrium profits slide 68 percent in 'challenging' 2005
Lloyd's insurer Atrium Underwriting plc announced pre-tax profits of £10mn for last year, 68 percent down on 2004's record return of £31.6mn. The company suffered from £26mn in net losses from last year's hurricanes, which also added 22 points to its..
02 May 2006
Arch income up as investments perform strongly
Bermudian (re)insurer Arch Capital Group reported first quarter net income of $129.6mn - up from the $115.9mn earned in the corresponding period of 2005. Operating income rose more significantly, from $111.9mn in the first quarter of...
02 May 2006
Endurance profits up, premiums down
Endurance Specialty yesterday (1 May) reported first quarter net income of $107.0mn, up from $96.3mn earned in the prior-year period. Operating income was $107.9mn, against $102.7mn in the first three months of 2005.
02 May 2006
Catlin US appoints chief admin officer
Bermuda-headquartered Catlin Group has appointed Vincent Brazauskas as senior vice president and chief administrative officer of Catlin Inc, the Group's US subsidiary. Brazauskas will be responsible for a variety of non-underwriting functions for...
02 May 2006
Marsh France appoints new CEO
Insurance broker Marsh Inc has announced the appointment of Stanislas Chapron as chief executive officer of Marsh France, following the retirement of Jean-Yves Durance.
02 May 2006
Net income up 34 percent at Berkley
US insurer WR Berkley reported a 34 percent rise in its first quarter net income from $121mn last year to $162mn in 2006. Net income was $0.84 per basic share and $0.80 per diluted share, up from $0.64 and $0.64 respectively for the same period in...
02 May 2006
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