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  • The Catlin insurance group finally announced its intention to take advantage of buoyant investor interest by floating on the London Stock Exchange.
  • Lloyd’s insurer Brit announced bumper results for 2003 last week, with profits increasing seven-fold on the back of a more than 50 percent rise in gross written premiums.
  • Analysts applauded Munich Re’s announcement last week (26 February 2004) that it would effectively dilute its shareholding in HypoVereinsbank (HVB) by not participating in the bank’s current equity issue.
  • A doubling in the number of hostile bids in 2003 is likely to prompt higher demand for insurance protection against the cost of fending off unsolicited takeovers, according to Lloyd’s insurer Hiscox.
  • French giant Axa saw its earnings outpace projections on the back of strong performance from its property casualty arm as it announced net income of €1bn for 2003, up 6 percent on 2002.
  • Former Royal & Sun Alliance Australasian subsidiary Promina Group last week announced net profits of A$271.8mn for 2003, excluding New Zealand contributions until May. Including a 12-month New Zealand contribution, pro forma net profits reached A$298mn. T
  • Insurers are pleased with initial developments as faults appear in arguments of WTC leaseholder Silverstein and broker Willis WTC leaseholder Silverstein Properties and reinsurer Swiss Re finally made it to court last month to decide whether the 9/11 a
  • 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
  • ZFS impresses, but rating agencies reserve judgment A year after booking a record $3.36bn loss blighted by equity write-downs, restructuring costs and reserve charges, Swiss giant Zurich Financial Services (ZFS) announced a return to a healthy $2.12bn ne
  • Willis Group finished 2003 with a healthy organic growth of 15 percent for the year as it revealed total revenues had grown 20 percent to $2076mn. Net income for the final quarter was static at $118mn with 2002 but overall earnings almost doubled for t