A renewal rights agreement and its growing specialty lines business helped The Hanover see a 62 percent, first quarter jump in profits to $41.8 million, up from $25.8 million in the year-ago period. “It was a difficult weather quarter for …
Swiss Re reported net income of $158 million for the first quarter of 2010, a successful result given the “high natural catastrophe losses in the first quarter.” Swiss Re also noted that the “estimated excess capital position at the AA …
The Bermuda-based Argo Group International Holdings released the following highlights for the quarter ended March 31, 2010: — Total revenue was $372.3 million versus $369.5 million in the year-ago quarter; — Gross written premiums were $404.5 million versus $496.1 million …
XL Capital’s first quarter, 2010 net income decreased to $127.996 million, from $178.379 million in Q1, 2009. Operating income, which excludes capital gains/losses, was also lower at $149.612 million, compared to $190.863 million last year. XL’s bulletin explained that the …
The Bermuda-based Max Capital Group Ltd. reported net income of $36.4 million, or $0.63 per diluted share, for the quarter ended March 31, 2010, compared to net income of $44.5 million, or $0.78 per diluted share, for the quarter ended …
Hannover Re’s first quarter report noted that, although it had been hit with some “major losses,” the reinsurer was nonetheless satisfied “with its start to the new financial year.” CEO Ulrich Wallin commented: “Although the burden of major losses in …
A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings of “a” of United Fire & Casualty Group (UFCG) and its five P/C members, which …
Airports in Ireland and parts of Britain were closed again for some hours on Tuesday because of the cloud of volcanic ash drifting south from Iceland that wreaked havoc on European air travel last month. Flights in much of continental …
A.M. Best Co. has revised the outlook to positive from stable and affirmed the issuer credit ratings (ICR) of “a-” and senior debt ratings of ACE Limited, based in Zurich, Switzerland, and ACE INA Holdings Inc. In addition Best affirmed …
Warren Buffett Saturday launched a strong defense of Berkshire Hathaway Inc.’s $5 billion investment in Goldman Sachs Group Inc. and the investment bank’s embattled chief executive, Lloyd Blankfein. Speaking at Berkshire’s annual meeting before an estimated 40,000 shareholders, Buffett’s forceful …
