Bermuda-based Flagstone Reinsurance Holdings Limited had a rough second quarter of 2007 with net earnings down by 53 percent to $14.694 million, compared to $26.905 million in the second quarter of 2006. The Company’s combined ratio for the period rose …
Bermuda-based Allied World Assurance Company Holdings, Ltd. reported net income of $123.3 million, or $1.96 per diluted share, for the second quarter of 2007, compared to net income of $102.4 million, or $2.02 per diluted share, for the second quarter …
The newly-formed Argo Group International Holdings, Ltd. announced the completion of its merger between Argonaut Group, Inc. and a wholly owned subsidiary of PXRE Group, Ltd. concluding the deal made earlier this year (See IJ web site March 15). The …
A.M. Best Co. and Standard & Poor’s Ratings Services have both lowered their respective ratings on Conseco Inc., following the Company’s announcement of further losses in its Conseco Senior Health Insurance (CSH) that required $110 million in reserve strengthening. S&P …
Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on Kanawha Insurance Co. to ‘BBB’ from ‘BBB+’; however, at the same time S&P revised the Company’s CreditWatch status to positive from developing. “The ratings were …
Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the quarter ended June 30, 2007 of $252 million, or $1.51 per diluted common share, compared with $223 million, or $1.37 per diluted common share, for the …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A++” (Superior) and the issuer credit ratings (ICR) of “aa+” of the General Re Group. The ratings apply to General Reinsurance Corporation (Delaware) and its core property/casualty and life …
Swiss Re released excellent financial figures for the second quarter of 2007, with earnings of CHF 1.2 billion ($1.007 billion), an increase of 45 percent over the same period last year. Annualized return on equity for the period improved to …
Bermuda’s Flagstone Reinsurance Holdings Limited will hold an investment community conference call on Thursday, August 9, 2007, at 9:30 a.m. EDT to discuss the company’s second-quarter 2007 financial results with interested investors and shareholders. Flagstone will release the results prior …
A.M. Best Co. has assigned a financial strength rating (FSR) of “A-” (Excellent) and an issuer credit rating (ICR) of “a-” to the Esurance Insurance Group (Esurance). In conjunction with the assignment, Best also announced that it has downgraded the …
