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  • Navigators adds to asbestos reserves
    The Navigators Group has announced that it expects it will record a net $31.6mn pre-tax charge on the back of higher than expected asbestos related losses.
    16 February 2004
  • AIG storms back
    The world’s most valuable insurer AIG has posted fourth quarter profits of $2.71bn, or $1.03 per share, with higher general insurance premiums and revenues contributing to the bottom line.
    16 February 2004
  • Aon makes steady if stolid progress
    Aon’s 2003 results were broadly in line with analysts’ expectations, with net earnings growing by more than a third and positive work done on de-leveraging the balance sheet with more debt being repaid early. But despite this progress, operating earnings
    16 February 2004
  • Hannover Re upgraded by BNP Paribas
    Hannover Re’s upbeat assessment of 2004 renewals has encouraged the French bank BNP Paribas to upgrade its outlook on the German reinsurer.
    16 February 2004
  • PXRe: catastrophe and risk excess contribute to bottom line
    Bermudian (re)insurer PXRe said on Wednesday (Feb 11, 2004) that its fourth-quarter net income had risen 71 percent from a year earlier, on the back of growth in its core catastrophe and risk excess lines of business.
    16 February 2004
  • XL looks to the future with ‘03 results
    A fourth quarter deficit was inevitable for the Bermudian giant XL Capital after a previously announced pre-tax charge of $694mn, and the operating loss of $2.54 per share was roughly in line with analysts’ expectations (First Call consensus $2.51).
    16 February 2004
  • CNA beats earning estimates
    Struggling insurance group CNA provided a fillip to its de facto owners, the Loews Corporation, after reporting its first below 100 percent combined ratio for the fourth quarter – the first time for more than four years.
    16 February 2004
  • Swiss Re holds strong at renewals with 7 percent growth
    Further rate increases and winning new businesses enabled reinsurance giant Swiss Re to grow premiums by 7 percent at the recent 1 January renewals.
    16 February 2004
  • Overriders face examination
    The opaque but growing trend of brokers charging payments from insurers to place business with them has been attacked by an influential US think tank as “potentially damaging”.
    16 February 2004
  • Pool Re passes provisional antitrust test
    Pool Re’s role as a terrorism reinsurer for commercial property has provisionally passed the antitrust test as the UK Office of Fair Trading (OFT) announced Friday (6 February, 2004) that it satisfies the conditions for exemption under competition law.
    09 February 2004
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