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  • Bermudian reinsurer Partner Re has said claims relating to its exposure to last week’s explosion at Algeria’s largest liquefied natural gas (LNG) plant were expected to be between $27-30mn.
  • US insurer Safeco announced today (26 January) that its has almost trebled its fourth quarter net income year-on-year, returning $166.2mn, or $1.19 per share compared to $57.1mn, or 42 cents a share in the same period of 2002.
  • Recently aired views on declining property rates were backed up last week by a survey from the Risk Insurance Management Society (RIMS) in the US, which found that the cost of premiums fell 8.8 percent in the final quarter of 2003.
  • Ratings agency Fitch has affirmed insurer Brit’s “A” financial strength rating, with a positive outlook, after the firm announced a capital reorganisation.
  • New research from analysts at Morgan Stanley suggests that world’s largest insurer AIG may benefit from a combination of stronger equity markets, a weakening dollar and renewed enthusiasm for growth prospects in China in 2004.
  • Last week signalled a number of key personnel changes in XL Capital’s insurance and reinsurance operations.
  • A new online quoting engine specialising in D&O liability insurance for small to medium size enterprises has been launched.
  • The recent round of renewals saw little change in market conditions as the reinsurance market generally upheld underwriting discipline, according to a report released today (19 January) by broker Benfield.
  • According to a new report from rating agency Moody’s, statutory reserve requirements are making direct writers of US individual life insurance policies increasingly dependent on offshore reinsurance to offload growing reserving pressures from their balanc
  • US property casualty giant The Hartford preannounced a higher than expected set of fourth quarter results last Wednesday (14 January) with an 8-K SEC filing.