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  • 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.
  • Heath Lambert Group has announced the appointment of Nigel Godwin as executive director within its Major Accounts Group.
  • 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.
  • 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
  • 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.
  • 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
  • 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
  • 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.
  • 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.
  • Broker Marsh looks set to announce more job redundancies as the result of an ongoing cost-cutting programme.