The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2010 global underwriting results for its 22 member (re)insurers – companies that write insurance and reinsurance from underwriting centers in Bermuda, Europe and the United States. The ABIR said …
Lloyd’s of London announced an overall profit of £2.195 billion ($3.522 billion) for 2010, a significant decrease from the record £3.868 billion (more than $6.2 billion) it recorded in 2009. The earnings report also noted that Lloyd’s combined ratio for …
Germany’s Hannover Re reported a “very pleasing year,” as after tax group net income rose to €748.9 million [$1.043 billion], from €733.7 million [$1.021 billion], despite the operational business being “impacted by a heavy major loss incidence. The reinsurer said …
French reinsurer SCOR Group continued to strengthen its financial position in 2010, posting net income of €418 million [$582.5 million] up 13 percent from 2009, and premium income of €6.7 billion [$9.34 billion], up 5 percent from 2009. As a …
State Farm reported $1.8 billion in after-tax net income in 2010, compared with $800 million in 2009. The improvement “was driven by the P-C companies’ improved results,” said the bulletin, which also explained that the “P-C companies reported a $3.1 …
The Australia-based QBE Group reported net after tax profits of *$1.278 billion for 2010, a 17 percent decrease from the $1.532 billion reported for 2009. However, the decline was almost entirely due to a drop in investment income from $1.532 …
The UK-based RSA Group (formerly Royal & Sun Alliance) came through 2010 with a good earnings performance, despite what its report described as “extreme weather conditions.” RSA summarized the highlights as follows: Net written premiums of £7.5 billion [$12.1 billion], …
The Bermuda-based Argo Group International Holdings, Ltd. posted lower net income figures for the fourth quarter of 2010 and for the full year. Highlights for the three months ended Dec. 31, 2010 were listed as follows: • Total revenue was …
Bermuda-based Arch Capital Group reported net income available to common shareholders for the 2010 fourth quarter of $227.7 million, or $4.54 per share, compared to $284.7 million, or $4.75 per share, for the 2009 fourth quarter. The Company also reported …
