A fire that sent gamblers fleeing from the Monte Carlo hotel-casino on the Las Vegas Strip in January will cost close to $100 million in repairs and lost business, casino operator MGM Mirage Inc. said. The company has insurance, but …
Zurich Financial Services Group has reported strong growth in all business segments, resulting in net income for 2007 of $5.626 billion, a 22 percent gain from the $$4.62 billion achieved in 2006. Business operating profit rose 10 percent to $6.614 …
The Bermuda-based Max Capital Group Ltd. reported net income for the three months ended December 31, 2007, of $62.4 million, or $1.00 per fully diluted share, versus net income of $95.4 million, or $1.50 per fully diluted share, for the …
A.M. Best Co. has placed the financial strength rating (FSR) of ‘B’ (Fair) and issuer credit rating (ICR) of “bb” of PMA Capital Insurance Company (PMACIC) under review with negative implications following the announcement that its parent, PMA Capital Corporation …
A.M. Best Co. has placed the financial strength rating (FSR) of A++ (Superior) and issuer credit ratings (ICR) of “aa+” of the domestic life and retirement services subsidiaries of American International Group (AIG) under review with negative implications. In addition, …
Bermuda- based Validus Holdings Limited reported net income for the quarter ended December 31, 2007 of $139.0 million, or $1.77 per diluted common share, compared with $69.1 million, or $1.16 per diluted common share, for the quarter ended December 31, …
The Bermuda-based Arch Capital Group Ltd. reported that net income available to common shareholders for the 2007 fourth quarter was $234.4 million, or $3.31 per share, compared to $239.3 million, or $3.12 per share, for the 2006 fourth quarter. Net …
A.M. Best Co. has assigned a financial strength rating of ‘A ‘(Excellent) and issuer credit rating (ICR) of “a” to CIBC Reinsurance Company Limited (CIBC Re), based in St. Michael, Barbados, with a stable outlook. “The ratings reflect CIBC Re’s …
Quarterly profits at Marsh & McLennan dropped 62 percent, as fourth quarter and annual revenues rose 8 percent. The giant insurance brokerage reported that fourth quarter net income dropped to $85 million, or 16 cents per share, from $226 million, …
While American International Group Inc. sought to downplay its miscalculation of losses on a derivatives portfolio as not “material to the company,” Wall Street was abuzz with speculation over whether the mistake could lead to a change at the top …
