Swiss Re would return capital to shareholders rather than underwrite low-margin business, its chief financial officer told Reuters, in a sign of confidence in the world’s second-biggest reinsurer’s renewed capital strength. “If the market doesn’t improve and we don’t have …
American International Group Inc. reported a $2.7 billion quarterly loss compared to a net profit of $1.8 billion for the same quarter a year earlier. The second quarter 2010 loss was primarily due to a $3.3 billion non-cash goodwill impairment …
American International Group Inc. reported better-than-expected quarterly results Friday and said it had started talks on disentangling itself from the U.S. government, sending its shares up 3.6 percent in premarket trading. The insurer, which is nearly 80 percent-owned by the …
Specialty insurer Catlin Group Limited reported a US$86 million profit before tax for the six months ending June 30, 2010. That compares to US$240 million for the half year 2009. The results include a US$227 million underwriting gain for the …
Boston-based Liberty Mutual Group reported net income of $220 million for the second quarter of 2010, a decrease of $48 million or 17.9 percent from the same period in 2009. Including the impact of catastrophes, the company’s combined ratio for …
Reno, Nev.-based Employers Holdings Inc. has reported second quarter 2010 net income of $16.5 million compared with $20.3 million in the second quarter of 2009, a decrease of $3.8 million or $0.05 per share. Net income for the six months …
Major European insurance groups weathered a slew of damage claims for storms and the collapse of the Deepwater Horizon oil rig to post stronger-than-expected half-year earnings on Wednesday. But prospects for the rest of 2010 remain cloudy, with low interest …
The Hartford swung to a second-quarter profit of $76 million, rebounding from a $15 million loss in the year-ago period, despite sizable catastrophe losses and several other one-time charges. The earnings reflect profitability for The Hartford Financial Services Group Inc., …
The Allstate Corp., headquartered in Northbrook, Ill., reported that second quarter 2010 operating income rose to $441 million compared to $297 million in the same period of 2009, reflecting improved results in both property/liability and Allstate Financial. Net income was …
The Florida Insurance Council¹s (FIC) Executive Board announced today that it has selected Cecil Pearce as the trade association¹s new president. He will succeed Guy Marvin, who announced his retirement earlier this summer. Pearce joins FIC from the American Insurance …
