New York-headquartered international reinsurer Transatlantic Holdings reported third-quarter net income of $68 million, down significantly from $134 million one year ago. The earnings were hurt by $71 million of pre-tax net catastrophe costs (net of reinsurance and net reinstatement premiums) …
Bermuda-based PartnerRe Ltd. has issued a statement indicating that it has “experienced no individual loss events occurring during the third quarter of 2011 which were in excess of $35 million.” The bulletin added that the “total of all losses expected …
Flagstone Re announced that its preliminary estimates for losses occurring in the third quarter of 2011 are expected to total around $45 million. The losses that impacted its reinsurance segment were related to Hurricane Irene, floods in Denmark, and the …
Canadian insurers are looking at a bleak quarter of financial results due to a sharp drop in stock markets and bond yields, and analysts are staying cautious on the stocks even at rock-bottom valuations. Sun Life Financial , Canada’s No. …
AIA Group Ltd, Asia’s No.3 insurer, said growth accelerated in the third quarter, with its value of new business rising 53 percent as strong performance in markets such as Malaysia helped boost earnings. The insurer’s value of new business (VONB) …
The UK-based Tawa plc, which specializes in insurance investments and services, posted a first half profit of $11 million, compared to $1.4 million in the same period of 2010. The Group’s earnings report also listed the following “highlights:” • Group …
As had been more or less predicted, Lloyd’s posted a £697 million [$1.094 billion] pre-tax loss for the first six months of 2011, compared to an overall profit of £628 million [$985.6 million] as of June 30, 2010. The report …
Insurance Australia Group, Australia’s top home and car insurer, reported a more than two-fold jump in annual net profit on Thursday but its outlook knocked the shares lower. IAG forecast profit margins of 10-12 percent for the year to June …
Australian insurer and bank Suncorp reported a 42 percent fall in annual profit on Wednesday, but still beat forecasts and hinted at a capital return once markets stabilized, sending its shares nearly 7 percent higher. But Suncorp, whose reinsurance cost …
