Bermuda’s other major insurer, XL Capital Ltd., joined ACE (See previous article) in reporting slightly lower profits for the first quarter of 2005, as it posted net income of $442.9 million or $3.18 per share, compared with $452.2 million, or …
Deutsche Boerse, the German stock market operator, announced that Lloyd’s Chairman Lord Peter Levene would be giving up his seat on the company’s supervisory board. Levene originally agreed to take a seat on the board of the German company when …
Standard & Poor’s Ratings Services announced that it has raised its financial strength and long-term counterparty ratings on Japan’s Fuji Fire & Marine Insurance Co. to “BBB+” from “BBB”, “reflecting the insurer’s improved capitalization and profitability.” The outlook on the …
The Irish-based FINEOS Corporation, an innovator of banking and insurance software, has achieved the Premier level within IBM’s PartnerWorld program. “By working closely with IBM on development and marketing initiatives, premier business partners can better serve customers with industry-specific solutions …
Standard & Poor’s Ratings Services announced that it has revised its outlook to positive from stable on the “A-” financial strength and long-term counterparty ratings on Aioi Insurance Co. Ltd., “reflecting increased likelihood of improvement in the company’s capitalization.” It …
Bermuda’s ACE Limited reported net income for the first quarter ended March 31, 2005 of $433 million or $1.46 per common share after payment of preferred dividends, compared with net income of $447 million or $1.53 per share for the …
Dealing with the thorny issue of how to ease doctors’ rising medical malpractice insurance rates, Connecticut lawmakers have managed this year to whittle dozens of proposals down to two. The work isn’t finished yet. Lawmakers, doctors and lawyers are planning …
The Farmers Insurance Group of Companies announced a 10 percent rate reduction in workers’ compensation rates for its California business customers. Since 2004, Farmers has slashed its workers’ compensation rates four times by a total of 24 percent due to …
Bermuda-based PXRE Group Ltd. announced that Jonathan Kelly has been named to its Board of Directors, effective immediately. Kelly will fill the vacancy created by the resignation of Susan Fleming Cabrera. Kelly, 40, is currently a principal of Capital Z …
Jon Bannett, senior vice president DVUA of New Jersey Inc., announced the appointment of Kristopher Dohm to the position of property broker. Dohm will be responsible for the brokerage of hard to place property risks, including, but not limited to, …
