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Willis employees lured by Integro
Start-up broking outfit Integro continued its roll-call of new employees this week, announcing the appointment of John Zaffino, John (Jack) Green, and Gregory Sinnott from rival Willis to its New York office.
01 August 2005
Room Solutions puts up 'for sale' sign
Leading Lloyd's IT provider Room Solutions is looking for a buyer, Insider Week can reveal.
01 August 2005
Investment gains for STA
A benign quarter for catastrophes and strong investment returns has helped propel US insurer St Paul Travelers (STA) to a record second quarter profit of £1.07bn.
01 August 2005
PXRE posts strong performance
Bermudian reinsurer PXRE has announced growth in net income to $43.5mn, or $1.30 per diluted share, compared to $32.3mn, or $1.20 per diluted share, in the second quarter of 2004.
01 August 2005
IPC Re optimistic on cat conditions
Property catastrophe specialist IPC Re last week (26 July) reported net income of $64.1mn or $1.32 a share, down on the $74.1mn or $1.53 a share booked in the second quarter of 2004.
01 August 2005
Aspen Re continues growth
Wellington spin-off Aspen Re last week (27 July) reported second quarter net earnings of $83.8mn, or $1.16 a share, marginally ahead of the $80.9mn booked in the same period last year.
01 August 2005
RenRe reserve release boosts result
On the face of it, the scrutiny surrounding RenaissanceRe and its chairman and CEO Jim Stanard failed to halt the Bermudian’s progress in the second quarter of 2005 as it reported $172.0mn net income and $170.4mn operating income –up on the $148.1mn and..
01 August 2005
Reserve charge hits XL earnings
As expected, Bermudian giant XL Capital last week (27 July) reported a 68 percent drop in second quarter earnings as the $191mn pre-tax reserve charge revealed earlier in the month fed through to the bottom line.
01 August 2005
Cherkasky in $3.5mn salary deal
World's largest insurance broker Marsh & McLennan has announced that it will pay its new chief executive Michael Cherkasky at least $3.5mn in salary and bonus for 2005 under a new three-year employment contract.
01 August 2005
QBE acquires American insurer
Australian reinsurer QBE has bought National Farmers Union Property and Casualty Co (NFU), a small US insurer, for about $140mn in order to boost premium income.
01 August 2005
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