November 3, 2009
The Swiss-based Glacier Group has announced the appointment of Todd Hart as Chief Executive Officer, with immediate effect. He had been serving as a nonexecutive director on the Group’s board, representing HBK Capital Management, one of Glacier’s founding shareholders. Hart …
November 3, 2009
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 …
November 3, 2009
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, …
November 3, 2009
State-controlled Royal Bank of Scotland Group PLC said Monday that European Union regulators will require it to sell more assets than originally expected, part of an industry shakeup announced by the government this weekend. Treasury chief Alistair Darling on Sunday …
November 3, 2009
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 …
November 3, 2009
The U.S. property/casualty industry experienced a 17 percentage point decline in risk-adjusted capitalization in 2008, according to A.M. Best Co., which conducted a four-year study. However, the capital still exceeded adequate levels thanks to excess from previous years. Using its …
November 2, 2009
CNA Financial Corp.’s third quarter 2009 results included net operating income of $331 million and net income of $263 million along with a combined ratio for property/ casualty operations of 101.0%. Net operating income for the three months ended Sept. …
October 30, 2009
The Bermuda Monetary Authority has reacted favorably to recommendations listed in the recently published “Foot Report,” which examines the role of offshore British financial centers, and their relation to the UK. The BMA said it “welcomes the publication of Mr. …
October 30, 2009
Guernsey’s government joined Bermuda’s in welcoming the final report of the ‘Foot Review’ [see IJ web site – https://www.insurancejournal.com/news/international/2009/10/30/104932.htm]. Guernsey’s Chief Minister Deputy Lyndon Trott stated: “In my view this report vindicates the position of Guernsey and the other Crown …
October 30, 2009
Bermuda-based Endurance Specialty Holdings Ltd. reported net income of $153.8 million and $2.51 per diluted common share for the third quarter of 2009, compared to a net loss of $99.4 million and $1.79 per diluted common share in the third …