Reno, Nev.-based Employers Holdings Inc. has reported first quarter 2010 net income of $16.1 million or $0.38 per share compared with $20.9 million or $0.43 per share in the first quarter of 2009, a decrease of $4.8 million or $0.05 …
Swiss Re reported net income of $158 million for the first quarter of 2010, a successful result given the “high natural catastrophe losses in the first quarter.” Swiss Re also noted that the “estimated excess capital position at the AA …
XL Capital’s first quarter, 2010 net income decreased to $127.996 million, from $178.379 million in Q1, 2009. Operating income, which excludes capital gains/losses, was also lower at $149.612 million, compared to $190.863 million last year. XL’s bulletin explained that the …
The Bermuda-based Max Capital Group Ltd. reported net income of $36.4 million, or $0.63 per diluted share, for the quarter ended March 31, 2010, compared to net income of $44.5 million, or $0.78 per diluted share, for the quarter ended …
Hannover Re’s first quarter report noted that, although it had been hit with some “major losses,” the reinsurer was nonetheless satisfied “with its start to the new financial year.” CEO Ulrich Wallin commented: “Although the burden of major losses in …
London-based Amlin plc, one of Lloyd’s and the UK’s best known insurers, has announced plans to establish a reinsurance company in Switzerland to serve European clients. Amlin said it believes that the company “will provide the European insurance market with …
A workers’ compensation bill slated for a California committee hearing this week could increase pharmacy costs and fails to address underlying problems that are currently driving up system costs, according to the Association of California Insurance Companies Vice President Mark …
Fremont Michigan InsuraCorp Inc., a Michigan-exclusive property and casualty insurance carrier, reported revenues of $14.9 million for the first quarter of 2010, up 9.4 percent from revenues in the first quarter 2009. Highlights for the quarter include: Net income of …
Companies with exposure to the sinking of the Deepwater Horizon oil rig in the Gulf of Mexico are insured for losses totaling about $1.4 billion, according to initial reports. “The insurance losses from the sinking of the Deepwater Horizon will …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the issuer credit ratings (ICR) of “a-” and senior debt ratings of ACE Limited, based in Zurich, Switzerland, and ACE INA Holdings Inc. In addition Best affirmed …
