Reinsurance
Odyssey Re reports operating loss of $6.4m
Odyssey Re has reported net income of $121.5m for the third quarter ended 30 September, compared to $112.1m for the same period last year.
Aspen hit by hurricanes and credit crunch
Aspen rcorded a third quarter 2008 net loss after tax of $116.7m, compared with a net profit after tax of $117.2 million in Q3 2007.
Les Rock resigns
Les Rock, president and chief underwriting officer of Ironshore has resigned and leaves tomorrow (31 October) stating personal reasons.
Appointment at Argent Liability Adjusters
Argent Liability Adjusters, part of the Parabis Group, has appointed Julie Prescott as liability adj...
Hurricanes slash profits
Lloyd's insurer Novae has said that claims from hurricanes Gustav and Ike, net of reinsurance and re...
Lancashire posts first loss
Lancashire has reported a net operating loss of $119.4m (£75.9m) after tax for the third quarter of ...
Hardy reveals hurricane costs
Lloyd's insurer Hardy Underwriting has estimated that its combined claims exposure for hurricanes Ik...
After the storm
Hurricanes: Financial toll
Gains from weak pound
Hiscox has said the strength of the dollar has led to increased profits that should outweigh the eff...
Berkshire Hathaway said to be meeting Swiss Re to discuss upping quota share
Berkshire Hathway is in discussions with Swiss Re about upping its quota share deal with the reinsurance giant, industry sources have told Reinsurance .
AM Best places 'several' insurers' ratings under negative reveiw on uncertainty of Florida Cat Fund
AM Best has placed several insurers’ ratings under review with negative implications "based on the considerable credit market contraction and the uncertainty regarding the Florida Hurricane Catastrophe Fund’s (FHCF) ability to fund its claims-paying…
Renaissance Re reports Q3 loss of $143.4m
Renaissance Re recorded an operating loss of $143.4m for the third quarter of 2008, compared to $167.8m for the same period last year, due to a $276m negative impact from hurricanes Gustav and Ike, and negative investment results of $93.3m.
Ace Q3 net income slips 92%; CEO Greenberg says soft market is 'over'
Ace's third quarter net income slipped 92% to $54m from $656m this time last year, but CEO Evan Greenberg was confident about the year ahead for the reinsurance industry.
Zurich estimates hurricane losses at $600m
Zurich Financial Services Group has said that based on preliminary estimates it expects aggregate claims payments related to hurricanes Gustav and Ike of approximately $600m before tax.
Swiss Re says not in talks with Swiss government about bailout
Swiss Re has denied it is in talks with the Swiss government about a possible bailout.
Third quarter results reveal £1.9m loss for Advent
Advent has reported a profit after tax of £26 000 for the first three quarters of 2008 compared to £7.8m in the same period last year.
WR Berkley forms Berkley Offshore Underwriting Managers
W. R. Berkley Corporation, the US (re)insurer, said it has formed Berkley Offshore Underwriting Managers.
Baden Baden: Munich Re says market is hardening
(BestWire) During the Baden-Baden Rendez-Vous event, Munich Re said it believes the reinsurance market is hardening, thanks partly to the recent financial turmoil.
Axis Capital reports Q3 $249m loss
Axis Capital, the Bermudian (re)insurer, reported a loss of $249m in the third quarter of the year, down from a net income of $270m in the same period last year.
Hardy reveals hurricane exposure
Lloyd's insurer Hardy Underwriting has estimated that its combined claims exposure for hurricanes Ike and Gustav , after reinsurance and reinstatement premiums, is $23m.
Baden-Baden: - Lloyd's Tolle warns of underwriting shake-up
Rolf Tolle, Lloyd’s franchise performance director told delegates at an XL briefing at the reinsurance gathering in Baden Baden this week: “We are at the end of maybe the longest period of economic growth and, I have to say, of “cheap money” driving that…
Lancashire boss in no doubt "the market has turned"
Lancashire has reported a net operating loss of $105.7m ($119.4m after tax) for the third quarter of 2008.
Weak pound leads Hiscox to increase capacity
Hiscox has said it will not decrease the capacity of Hiscox Syndicate 33 at Lloyd’s to £550m as previously planned and will increase it to £750m for the 2009 account.
Arch Capital sees income dip in 2008
Bermudian insurance group Arch Capital saw its third quarter net income fall to $26.4m, compared to $199.7 m in 2007. For the first nine months of 2008 Arch Capital's net income fell to $408.1m, from $597.7m last year.