While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s under reserved; burgeoning liability claims (asbestos, D&O, E&O, med-mal, …
While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s under reserved; burgeoning liability claims (asbestos, D&O, E&O, med-mal, …
Zurich Financial Services Group announced that it has sold its indirect holding of 51 percent of the shares in Eagle Insurance Company Limited, a composite insurance company listed on the Colombo Stock Exchange, to Sri Lanka’s Capital Development & Investment …
Bermuda’s XL Capital Ltd. announced that it was posting a net loss for the 3rd quarter ended Sept. 30 of $840 million, or a loss of $6.57 per share, compared with net income of $139.5 million, or income of $1.10 …
Bermuda’s XL Capital expects gross claims stemming from the September 11 attacks on the U.S. to reach $1.8 billion, but it expects to recover $1.1 billion from reinsurance. The resulting net loss of $700 million accords with XL’s previous high …
Lloyd’s announced that it had completed a preliminary assessment of the possible losses from last Tuesday’s terrorist attacks in the U.S., and although it gave no specific figures, it stated that “these exposures can be managed within its unique system …
