Bermuda-based PartnerRe Ltd. announced that Bruno Meyenhofer, Chairman of PartnerRe Global (the Company’s non-U.S. operations], has advised the Company of his decision to retire, effective March 31, 2010. He joined PartnerRe in 1998, through the Company’s acquisition of Winterthur Re …
The Bermuda-based Argo Group International Holdings, Ltd. (the successor company of the Argonaut Group) announced a record result for 2009 with net income rising by 87 percent to $117.5 million, or $3.81 per diluted share from $62.9 million or $2.05 …
Bermuda-based Validus Holdings, Ltd. reported net income of $165.8 million, or $1.23 per diluted common share for the three months ended December 31, 2009, compared with net income of $37.0 million, or $0.47 per diluted common share, for the three …
Several bills up for hearings this week in the Colorado legislature that are being pushed by the Colorado Trial Bar are likely to contribute to frivolous lawsuits that drive up insurance costs for consumers, according to the Property Casualty Insurers …
Two leading European insurers on Thursday unveiled big dividend increases, confirming a sector-wide trend as the industry takes comfort from a steady recovery in its capital strength since the crisis. AXA, Europe’s biggest insurer, raised its 2009 dividend by 38 …
Germany’s Munich Re and Allianz halted all remaining insurance business in Iran as their national representative body said it backed international moves toward tougher sanctions against Tehran. Against a backdrop of rising political tensions, the world’s biggest reinsurer, Munich Re, …
Investment gains helped Pennsylvania-based insurer Harleysville Group Inc. post a 422 percent increase in fourth-quarter income to $24.2 million, as the insurer nearly doubled its profits to $86.3 million in 2009. “We’re pleased that we ended 2009 with another strong …
United America Indemnity has announced that its Board of Directors has unanimously approved a plan to re-domicile from the Cayman Islands to Ireland. The Company’s shareholders will be asked to vote in favor of completing the reorganization proposal at a …
Washington insurers can continue to use credit scores when rating and underwriting insurance, at least for the time being. Washington Senate Bill 6252, which would have banned credit-based insurance scores, failed to come to a vote on the floor of …
Swiss Re returned to profit in 2009. The world’s number two reinsurer reported net income of CHF506 million [$468.9 million], compared to a loss of CHF 864 million [$800.6 million] in 2008. The earnings statement noted: “Net income was impacted …
