Bermuda
Lancashire suffers Q1 profit slide
Speciality underwriter Lancashire holdings has reported net post tax profit of $8.2m (£5.4m) for the first quarter of 2010 – a fall of almost 80% on $40.7m profit of Q1 2009, partially impacted by the Deepwater Horizon incident.
Max Capital puts low cat loss down to "conservative underwriting"
Max Capital has reported net income of $36.4m for the quarter ended 31 March, compared to net income of $44.5m for Q1 2009.
Endurance Q1 results fall 28% on cat losses
Endurance Specialty Holdings reported a fall in first-quarter profit of more than 28%, after it suffered estimated losses of $65m from catastrophes.
PartnerRe president and CEO to retire
Patrick Thiele has decided to retire in December and will also step down from the board of directors.
Validus to take hit of up to $45m from Deepwater Horizon oil platform
Validus has provided an estimate of losses from the Deepwater Horizon oil platform loss in the Gulf of Mexico.
Bowring Marsh names global business development boss
International placement broker Bowring Marsh has named George Jones as its first ever global head of business development.
Max and Harbor Point shareholders approve merger
Respective shareholders have voted in favor of all proposals necessary to consummate a merger of equals of Max and Harbor Point to form Alterra.
Ace Q1 net income up 33%
Ace has reported its net income is up in Q1, but its combined ratio has also risen following heavy catastrophe losses.
Everest Re reports Q1 loss on high cat claims
Everest Re reported a net loss of $22.7m, or $0.38 per common share, for the first quarter 2010, compared to net income of $108.6m, or $1.76 per diluted common share, for the first quarter of 2009.
Aspen Q1 results plummet on cat losses
Aspen has reported a net profit after tax for the first quarter of 2010 of $18.3m. This compares to a net profit after tax of $91.4m.
Deepwater Horizon oil rig continues leaking oil as claims rise
Owner BP expects its self-insurance and captive insurance to cover costs associated with a massive clean-up effort, which has been said to be costing $6m a day.
RenRe reports Q1 net income of $165m
Bermuda (re)insurer RenaissanceRe has reported net income of $165m, or $2.73 per diluted common share, in the first quarter of 2010. This compares to $97.3m for the first quarter of 2009.
Montepelier makes minor Q1 gains despite cat losses
Montpelier Re, the Bermudian (re)insurer, managed to eke out a gain in the first quarter of the year, despite having a monster jump in combined ratio.
Axis reports drop in net income
Axis Capital has reported a first quarter net income available to common shareholders of $112m, compared with net income of $116m for the first quarter of 2009 as a result of catastrophe losses.
Arch reports Q1 premium declines
Arch Capital reported a decline in revenue and reduced underwriting profitability in the first quarter of 2010.
Ariel Re appoints new CEO
Bermuda based (re)insurer promotes Tom Hulst to CEO of its reinsurance operations.
Platinum reports Q1 results slump
Platinum Underwriters' first-quarter profit fell 82% on lower earned premiums.
Endurance promotes Asquino
Endurance Specialty Holdings has announced the appointment of Thomas Asquino as CUO, property and casualty, of Endurance Worldwide Reinsurance.
Ace Bermuda appoints new exec VP
Ace Bermuda, the Bermudian subsidiary of Ace, has said that Judy Gonsalves has been appointed executive vice president.
New Irish Regulator challenges Quinn to "show me the money"
The new Financial Regulator Matthew Elderfield yesterday challenged Quinn to “show him the money”.
XL Capital next Bermuda acquisition target - analysts
Analysts predict that XL Capital will be the next reinsurance acquisition target emerging from the island.
CRM in quota share deal with Amtrust
Bermuda workers’ compensation (re)insurer CRM Holdings has entered into a quota share agreement with US specialty property casualty insurer AmTrust Financial Services
MS Frontier Re acquires Irish sister company
Bermuda-based reinsurer MS Frontier Re (MSFRe) has acquired its Dublin-based sister company Mitsui Sumitomo Reinsurance (MSRe).
Hurst-Bannister: Costs key to London’s competitiveness
London Market Group chairman Barnabas Hurst-Bannister has called on the London insurance market to reduce process costs to maintain its position at the centre of the industry.