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  • Fast growing Bermudian (re)insurer Endurance had its AM Best A (Excellent) rating affirmed last Thursday (7 May), a week after reporting first quarter net profits double last year’s.
  • World’s largest insurer, American International Group (AIG), kicked off the US first quarter reporting season on 23 April when it said profits had jumped 36 percent to reach $2.6bn, compared with $1.95bn for the same period a year earlier.
  • A number of Californians who lost houses in last year’s wildfires have filed a proposed class action lawsuit against four US insurers they claim charged premiums for property that no longer exists.
  • Lloyd’s insurer Hardy Underwriting Group plc made a profit of almost £12mn from its 18-month investment in rival Atrium Underwriting plc, the company revealed last week.
  • Improvements in technology, cycles and consolidation, and increased corporate governance are the three major trends facing the insurance industry, CEO and chairman of broker Willis Jo Plumeri has said.
  • Heath Lambert Group has appointed Ian McMullan as director of Heath Lambert Financial and Professional Risks.
  • Nigel Malcolm has joined Chaucer Syndicates to underwrite the institutional healthcare account for Chaucer Syndicate 1084 Specialist Lines Division.
  • (Re)insurers surge ahead on hard market swell Bermuda’s (re)insurers got off to a positive 2004 first quarter with the majority posting results in line or above expectations.
  • An 83 percent leap in pre-tax profits helped propel Lloyd’s insurer Atrium into a strong showing for the 2003 year of account.
  • Bermudian giant XL Capital Ltd will part company with Nick Metcalf, the chief executive of its Lloyd’s arm XL London Market Ltd.