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Reinsurance

Odyssey Re hit by nat cat losses

Odyssey Re has announced that it expects after-tax net losses in the range of $26m to $29m during the first quarter of 2005 from a number of natural catastrophes.

AIG delays 2004 10-K

American International Group’s (AIG) problems have deepened as it announced that it was formally delaying the submission of its Form 10-K for 2004.

AM Best affirms WOE’s ratings

AM Best has affirmed the A (Excellent) financial strength rating of West of England Ship Owners Mutual Association (WOE) (Luxembourg). The rating outlook remains stable.

RAA releases US industry figures

According to a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 26 US property-casualty reinsurers wrote $28.8bn of net premiums during the twelve months ended December 31, 2004.

SVB losses top £110m

Lloyd's insurer SVB reported technical profits of £65.0 million (2003: £68.9 million) and operating profits of £46.7 million (2003: £56.7 million) on its continuing business. However, including discontinued business the insurer's loss before tax was …

Ratings pressure

Maurice Greenberg's resignation as chairman and chief executive officer of AIG prompted a frenzy of ...

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