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  • US insurer Chubb last week reported $808.8mn in net income for 2003, a 262.9 percent increase on 2002.
  • Accounting irregularities have been found at the predecessor firm of China Life, the Chinese life insurance company that held the world's largest IPO in December 2003.
  • Although an appeal is inevitable, and settlement still a possibility, it is nevertheless conceivable that in the next two months we will know whether the 9/11 attacks on the World Trade Center amount to one insurable loss or two.
  • Lloyd’s insurer SVB has launched a new specialist service company, Novae Underwriting, to target the UK SME liability market.
  • Lloyd’s new digital hub Kinnect announced another first today (9 February, 2004) as it took its maiden complex open market risk.
  • Bermuda based Everest Re saw its fourth quarter net profits double from $55.6mn to $121.8mn, or $2.15 a share, as the reinsurer continued to capitalise on the strong rate environment. Operating profits rose 95.9 percent to $118.6mn excluding realised capi
  • Bermudian reinsurer Max Re has reported Q4 net income of $36.4mn, or $0.76 per diluted share, compared to net income of $11mn, or net income of $0.29 per diluted share, for the same period in 2002.
  • Bermudian giant ACE impressed analysts with a record set of results last Thursday (5 February, 2004), earning $1.4bn in 2003, equivalent to $4.93 per share, and up from $77mn or 19 cents per share the previous year, which was hit by a $354mn fourth quarte
  • 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.
  • Canadian insurance combine Fairfax Financial Holdings Ltd revealed a return to underwriting profit last week with “record” earnings of $271.1mn for 2003, which included a positive underwriting contribution of $87.7mn.