Political risk insurance premiums have risen across emerging markets in the last year, fuelled by rising resource nationalism and unrest linked to the financial crisis as well as a renewed concern over risk amongst investors. Foreign direct investors use the …
The Bermuda -based Catlin Group Limited has released its interim management statement as of Sept. 30, 2009, which shows significant gains in the Group’s operations. The bulletin listed the following highlights for the period: — 10 per cent increase in …
Zurich Financial Services Group reported “business operating profit for the discrete third quarter 2009” of $1.5 billion, a 138 percent increase over Q3 2008. Net income for the quarter was $909 million, a 490 percent increase over the same prior-year …
Bermuda-based Montpelier Re Holdings Ltd. reported net income of $148 million ($1.68 per share) for the third quarter and $359 million ($4.11 per share) for the nine months ended September 30, 2009. Operating income, which excludes investment gains/losses, was $62 …
Standard & Poor’s Ratings Services has placed its ratings on Berkshire Hathaway Inc. (BRK) and various affiliates on CreditWatch with negative implications following the company’s announcement that it will acquire Burlington Northern Santa Fe Corp. (BNSF). S&P noted that the …
Bermuda-based Flagstone Reinsurance Holdings Limited announced that its net income attributable to common shareholders for the quarter ended September 30, 2009, was $67.1 million, or $0.80 per diluted share, compared to a net loss of $186.5 million, or $2.18 per …
A.M. Best Co. has upgraded the financial strength rating to ‘A-‘ (Excellent) from’ B++’ (Good) and issuer credit ratings to “a-” from “bbb+” of Arbella Insurance Group and its members. Arbella consists of Arbella Mutual Insurance Company, majority-owned subsidiaries Arbella …
Bermuda-based AXIS Capital Holdings Limited reported a net loss available to common shareholders for the third quarter of 2009 of $96 million, or $0.70 per diluted common share, compared with a net loss of $249 million, or $1.79 per diluted …
The Bermuda-based Argo Group International Holdings, Ltd. announced financial results for the three and nine months ended Sept. 30, 2009. The Group listed the following “Highlights” for the three months ended Sept. 30, 2009: — Total revenue was $383.8 million, …
Swiss Re strengthened its capital in the third quarter, it reported on Tuesday, boosting its chances of repaying a costly convertible loan from Warren Buffett as it beat operating profit forecasts in its core businesses. Fat operating margins and gains …
