Bermuda-based PXRE Group Ltd. announced results for the second quarter ended June 30, 2004. Highlights for the quarter included: * Net income increased 51% to $32.3 million from $21.5 million * Net operating income per diluted common share was $1.21 …
Jean M. Lawler, a senior partner at Murchison & Cumming, LLP, of California, has been inaugurated as president of the Federation of Defense & Corporate Counsel (FDCC), the first woman to hold this position. Lawler was first elected to the …
Summer is just flying by us, and I hope you are enjoying every minute! We here at Insurance Journal are very busy in planning for our upcoming issues. In fact, as we put this issue to bed, production starts right …
China wants to build an insurance system in two to three years to protect against natural catastrophes, which officials estimate cause some $17 million in losses every day. China Daily reported that the Insurance Regulatory Commission is planning an insurance …
Standard & Poor’s Ratings Services announced that it has lowered its insurer financial strength and counterparty ratings on Australian insurer Mercantile Mutual Insurance Ltd. (MMIA) “A+” from “AA-” and removed the ratings from CreditWatch Negative. The rating action follows the …
Standard & Poor’s Ratings Services announced that it has revised the ratings outlook on Australia’s AMP Life Ltd., AMP Group Holdings Ltd., and AMP Bank Ltd. to positive from stable, and affirmed the insurer financial strength and counterparty credit ratings …
Moody’s Investors Service announced that it has placed the long-term ratings of Australia’s AMP Ltd. group of companies under review for possible upgrade. Moody’s said the “the review reflects AMP’s successful repurchase of A$747 million [U.S. $514 million] of its …
AXIS Capital Holdings Limited announced that its European insurance subsidiary, AXIS Specialty Europe Limited (AXIS Europe), has begun underwriting Directors and Officers Liability Insurance and other Professional Lines coverages. AXIS Europe, primarily via its UK branch, AXIS Specialty London, will …
A group of former Reuters executives, who formed Baronet Media Ltd., have announced a new information venture, Vigilo Risk, aimed at providing information on threats “to the smooth flow of freight and travelers around the world.” Vigilo Risk will offer …
A.M. Best Co. has affirmed the financial strength ratings of “A++” (Superior) of the General Re Group. The rating applies to General Reinsurance Corporation (Delaware) and its core property/casualty and life reinsurance and insurance subsidiaries operating both in the United …
