Property-casualty insurer Ace Ltd. posted a second-quarter operating profit Monday that beat Wall Street expectations, sending its shares more than 2 percent higher. Ace said net income fell about 27 percent, hurt by a decline in policy sales and realized …
The UK’s Insurance Industry Working Group (IIWG) has published its report into the medium and long-term challenges facing the country’s insurance industry. The group was commissioned in October 2008 to look into the challenges and opportunities facing the UK’s Insurance …
A.M. Best Co. has revised the outlook to stable from positive and affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Taiwan’s Central Reinsurance Corporation. Best explained that the “revised outlook reflects the …
Reno, Nev.-based Employers Holdings Inc., a company whose subsidiaries are specialty providers of workers’ compensation insurance focused on small businesses, will review the company’s second quarter and year-to-date 2009 financial results during a conference call and Webcast at 10:30 a.m. …
The California Department of Insurance has come up with dozens of suggestions for improving the insurance fund that steps in to pay claims when an insurance company goes bankrupt. The report issued by Insurance Commissioner Steve Poizner calls for more …
The Association of British Insurers (ABI) has issued a bulletin to coincide with the start up of the UK’s National Pandemic Flu Service. The bulletin notes that the UK’s “travel insurance industry has confirmed that, in the absence of written …
The Bermuda-based Arch Capital Group Ltd. reported net income available to common shareholders for the 2009 second quarter at $152.1 million, or $2.43 per share, compared to $192.3 million, or $2.92 per share, for the 2008 second quarter. For the …
U.S. property/casualty insurer Chubb Corp posted a higher quarterly profit on Thursday, beating Wall Street expectations, as investment gains and lower underwriting losses offset declining policy sales. Second-quarter net income rose nearly 18 percent to $551 million. “These results were …
Despite a slight drop in total revenues, Bermuda-based Platinum Underwriters Holdings reported net income for the second quarter of 2009 of $98.1 million, compared to $99.755 million in Q2 2008. On a diluted earnings per share basis, however, Platinum returned …
Standard & Poor’s Ratings Services has revised its outlook to stable from negative on Netherlands-based commercial lines insurer Fortis Corporate Insurance N.V. (FCI), and affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on the company. S&P said …
