News – Page 495
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Swiss Re reports 54% jump in Q1 earnings
Swiss Re recorded earnings of CHF1.3bn in Q1 2007
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New CEO for Gen Re Life
Steven Mannik has been named president and chief executive officer of General Re Life.
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Max Re confirms name change
Max Re has announced that the company has changed its name from Max Re Capital to Max Capital Group
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Max Capital reports "strong start" to 2007
Max Capital has reported net income for the three months ended 31 March 2007 of $80m
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AIR collaborates on Ren Re hurricane project
AIR has announced that it has collaborated on the “RenaissanceRe Wall of Wind” hurricane simulator.
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Management changes at Towers Perrin
Towers Perrin has announced that Robert Hogan has been appointed chief operating officer
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Best upgrades Scottish Re to "B+"
AM Best has upgraded the financial strength rating to “B+” (Good) of Scottish Re
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Arch launches new risk product
Arch Insurance has announced it is offering a new product for private companies.
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Munich Re plans €8bn shareholder payout
Despite losses from Winter Storm Kyrill, Munich Re remains confident about hitting its targets for the year
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Glacier Re outlook revised due to ERM efforts
AM Best has revised the outlook on Glacier Re from negative to stable due to effective enterprise risk management
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Flagstone raises $173m in IPO
Flagstone underwriters exercised their over-allotment option when the company went public in March
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Collins launches ART advisory unit
Collins Capital Advisors will assist re/insurers with investment banking advice and capital markets expertise
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Munich ratings unaffected by €8bn buyback initiative
Munich Re's plans to return more than €8bn to shareholders will have no immediate impact on ratings
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Endurance premiums drop; profit margins “under pressure”
Endurance's total premiums written in the first quarter of 2007 were $576.5m, a decrease of $94m or 14%
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Aspen's income up 97%; record Q1 results
Aspen has reported net income of $121.9m in the first quarter of 2007 versus $61.8m in Q1 2006, up 97%
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Hannover Re results hit by €160m Kyrill loss
Hannover Re has reported a 16.8% increase in group net income for Q1 2007
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Bach joins Hiscox to grow US business
Hiscox has announced the appointment of Carl Bachto spearhead business development operations in the US.
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Beazley records 3% rate rise across portfolio
Beazley is set to confirm that underwriting conditions so far this year have been “satisfactory”
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City consortium buys RI3K for £8.3m
A city consortium led by IPGL has bought a controlling interest in RI3K
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CastlePoint reports first results as public company
CastlePoint has reported net income of $7.1m
