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Endurance keeps up growth
Fast growing post-9/11 start-up Endurance last Wednesday (16 February) reported 2004 profits well up on the previous year as it shrugged off the impact of the season's catastrophe losses.
21 February 2005
Godwin moves to Heath after 27 years at Aon
Heath Lambert Group has announced the appointment of Nigel Godwin as executive director within its Major Accounts Group.
21 February 2005
PXRe profits down on cat losses
Refocused Bermudian property catastrophe (re)insurer PXRe reported full year 2004 profits more than 75 percent down on 2003 as strong fourth quarter performance failed to reverse the devastation of a third quarter struck by hurricane and typhoon losses.
21 February 2005
Arch on the rise
Post-9/11 start-up Arch Capital last Monday (14 February) reported 2004 net profits of $107.1mn, or $1.45 a share for the fourth quarter and $316.9mn or $4.37 a share for the full year, compared to $83.7mn or $1.22 a share and $280.6mn or $4.14 a share re
21 February 2005
Max Re earnings stay strong
Max Re announced on 4 February that 2004 full year net income was up from $120.6mn to $133.7mn, or $2.75 a share, as fourth quarter profits rose from $36.4mn for the three months ended 31 December 2003, to $87.1mn for the last quarter of 2004.
21 February 2005
S&P warns of ZFS downgrade over reserving fears
Influential rating agency Standard & Poor’s (S&P) announced on 17 February that it was placing the ratings of Swiss financial services giant Zurich Financial Services (ZFS) on CreditWatch with negative implications, following the revelation that the compa
21 February 2005
Converium makes it through renewals
Converium appears to have survived the worst of the 1/1 renewals, according to the reinsurer. In a conference call on 17 February, CEO Dirk Lohmann told analysts he was “very happy” with the results of the renewals, which saw the retention of 63 percent o
21 February 2005
Munich Re returns to profit
World’s largest reinsurer Munich Re turned 2003’s €434mn loss – its first loss since WWII – into an impressive €1.8bn profit for 2004 on the back of a strong recovery in its ERGO primary insurance unit.
21 February 2005
Sudden Rossi departure hints at IUA unrest
The sudden departure of Marie-Louise Rossi from the International Association of Underwriting (IUA) has led to suggestions her parting was less than amicable – a view the IUA refused to contradict.
21 February 2005
Marsh hit by more job cuts
Broker Marsh looks set to announce more job redundancies as the result of an ongoing cost-cutting programme.
21 February 2005
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