Financial News

XL Posts $77.5 Million Q3 Net Income; $175 Million Operating

Bermuda-based XL Group plc reported net income attributable to ordinary shareholders of $77.543 million for the third quarter of 2010, or $0.23 per ordinary share, compared to a net loss of $11.4 million, or a loss of $0.03 per ordinary …

Argo Group Q3 Net Income $23 Million; $25.7 Million Operating

The Bermuda-based Argo Group International Holdings, Ltd. reported earnings figures for the third quarter of 2010 which show net income of $23 million or $0.77 per diluted share, compared to $27.6 million or $0.89 per diluted share for the three …

Zurich Posts $1.2 Billion Q3 Operating Profit; $751 Million Net Income

Zurich Financial Services Group reported a business operating profit of $1.2 billion and net income of $751 million for the third quarter. “Global Life and Farmers supported the Group’s profitability by delivering ongoing top-line growth coupled with strong profit margins,” …

Mercury General Reports $654.7M Net Premiums in Q3

Los Angeles-based Mercury General Corp. reported net income of $96.8 million in the third quarter, compared with $157.7 million for the same period in 2009. For the nine months of 2010, net income was $175.8 million compared with $368.8 million …

Alterra Capital Posts $82.8 Mn. Q3 Net Income; $222.7 Mn 9 Months

Bermuda-based Alterra Capital Holdings Limited reported net income of $82.8 million, or $0.70 per diluted share, for the third quarter of 2010, compared to net income of $95.3 million, or $1.64 per diluted share, for the same quarter of 2009. …

Montpelier Re Reports $90 Million Q3 Net Income; Operating $61 Million

Bermuda-based Montpelier Re Holdings Ltd. reported operating income of $0.86 per share, $60.7 million total, and comprehensive income of $1.28 per share, $90.8 million total, slightly higher than the net income figure due to the inclusion of other income items. …

Swiss Re Structures $386 Million ‘European Windstorm’ Notes

Swiss Re’s Capital Markets Division has structured €275 million [$386 million] in notes as an alternative risk transfer vehicle, covering European windstorm events, for AXA Global P&C’s Calypso Capital Ltd., a special-purpose company incorporated in Dublin, Ireland. “The notes, which …

The Hartford Boosts Profits in Q3

The Hartford Financial Services Group, Inc. reported third quarter 2010 net income of $666 million. This compares to the company’s third quarter 2009 net loss of $220 million. The Hartford reported core earnings for the third quarter of 2010 were …

Flagstone Reports $37.3 Million Q3 Net Income; $82 Million for 9 Months

Flagstone Reinsurance Holdings, S.A., which is domiciled in Luxembourg, reported net income attributable to common shareholders for the quarter ended September 30, 2010 of $37.3 million, or $0.48 per diluted share, compared to a net income of $67.1 million, or …

AXIS Capital Reports $239 Million Q3 Net Income; $164 Million Operating

Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the third quarter of 2010 of $239 million, or $1.78 per diluted common share, compared with a net loss of $96 million, or $0.70 per diluted common …