Germany’s Hannover Re reported a “very pleasing year,” as after tax group net income rose to €748.9 million [$1.043 billion], from €733.7 million [$1.021 billion], despite the operational business being “impacted by a heavy major loss incidence. The reinsurer said …
French reinsurer SCOR Group continued to strengthen its financial position in 2010, posting net income of €418 million [$582.5 million] up 13 percent from 2009, and premium income of €6.7 billion [$9.34 billion], up 5 percent from 2009. As a …
State Farm reported $1.8 billion in after-tax net income in 2010, compared with $800 million in 2009. The improvement “was driven by the P-C companies’ improved results,” said the bulletin, which also explained that the “P-C companies reported a $3.1 …
The Australia-based QBE Group reported net after tax profits of *$1.278 billion for 2010, a 17 percent decrease from the $1.532 billion reported for 2009. However, the decline was almost entirely due to a drop in investment income from $1.532 …
The UK-based RSA Group (formerly Royal & Sun Alliance) came through 2010 with a good earnings performance, despite what its report described as “extreme weather conditions.” RSA summarized the highlights as follows: Net written premiums of £7.5 billion [$12.1 billion], …
The Bermuda-based Argo Group International Holdings, Ltd. posted lower net income figures for the fourth quarter of 2010 and for the full year. Highlights for the three months ended Dec. 31, 2010 were listed as follows: • Total revenue was …
Swiss Re struck a note of confidence on its pricing power and hiked its dividend, saying capital had recovered since it turned to U.S. billionaire Warren Buffett for help in the financial crisis. The world’s second-biggest reinsurer’s full-year net income …
Bermuda-based Arch Capital Group reported net income available to common shareholders for the 2010 fourth quarter of $227.7 million, or $4.54 per share, compared to $284.7 million, or $4.75 per share, for the 2009 fourth quarter. The Company also reported …
As has been the case with many of its peers, Bermuda-based Validus Holdings didn’t escape the loss events of 2010 unscathed, as both fourth quarter and full year earnings results were battered. Validus reported net income of $102.7 million, or …
