Zurich Financial Services Group reported “business operating profit for the discrete third quarter 2009” of $1.5 billion, a 138 percent increase over Q3 2008. Net income for the quarter was $909 million, a 490 percent increase over the same prior-year …
Bermuda-based Montpelier Re Holdings Ltd. reported net income of $148 million ($1.68 per share) for the third quarter and $359 million ($4.11 per share) for the nine months ended September 30, 2009. Operating income, which excludes investment gains/losses, was $62 …
Albert E. Fowerbaugh, Jr. has joined the Chicago law firm Butler Rubin Saltarelli & Boyd LLP as a partner. At Butler Rubin, Fowerbaugh will concentrate his practice in complex commercial litigation. Most recently, Fowerbaugh was a partner at DLA Piper …
Bermuda-based Flagstone Reinsurance Holdings Limited announced that its net income attributable to common shareholders for the quarter ended September 30, 2009, was $67.1 million, or $0.80 per diluted share, compared to a net loss of $186.5 million, or $2.18 per …
Marsh & McLennan Companies, Inc. (MMC) reported that for the third quarter of 2009, its consolidated revenue was $2.5 billion, a decline of 11 percent from the third quarter of 2008. Insurance revenue was down 5 percent. Expenses were reduced …
Standard & Poor’s Ratings Services has revised its outlook on Bermuda-based reinsurer Harbor Point Re Ltd. and its U.S.-based subsidiary Harbor Point Reinsurance U.S. Inc. to stable from negative. S&P also affirmed the ‘A-‘ counterparty credit and financial strength ratings …
The Association of British Insurers is increasingly concerned that “rising global temperatures will put the heat on insurance as flood costs rise.” This would in turn “lead to more expensive and harder to obtain property insurance in the UK and …
The Swiss-based Glacier Group has announced the appointment of Todd Hart as Chief Executive Officer, with immediate effect. He had been serving as a nonexecutive director on the Group’s board, representing HBK Capital Management, one of Glacier’s founding shareholders. Hart …
Bermuda-based AXIS Capital Holdings Limited reported a net loss available to common shareholders for the third quarter of 2009 of $96 million, or $0.70 per diluted common share, compared with a net loss of $249 million, or $1.79 per diluted …
The Bermuda-based Argo Group International Holdings, Ltd. announced financial results for the three and nine months ended Sept. 30, 2009. The Group listed the following “Highlights” for the three months ended Sept. 30, 2009: — Total revenue was $383.8 million, …
