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Earnings

Reinsurance

"PartnerRe posts $807m loss "

Bermuda reinsurer PartnerRe last night reported a first-quarter net loss of $807 million after it was hit by more than $1 billion in catastrophe losses in the first three months of the year. Earthquakes in New Zealand and Japan, as well as flooding a...
May 03, 2011
International Business

"Lazard profit slips to $58m"

NEW YORK (Bloomberg) Bermuda-based Lazard Ltd, the largest independent merger adviser, said first-quarter earnings fell 4.7 percent as revenue from advising on restructurings declined. Profit was $58.5 million, or 43 cents a share, compared with $61....
Apr 28, 2011
Reinsurance

"Everest posts $316m loss"

Bermuda-based reinsurer Everest Re Group Ltd reported a first-quarter net loss of $315.9 million, as catastrophe claims took a heavy toll on the company. The loss, which broke down to $5.81 per share compared to a net loss of $22.7 million, or $0.38 ...
Apr 28, 2011
Reinsurance

"Quake claims drive Montpelier to $104m loss"

Montpelier Re Holdings Ltd suffered a net loss of $104.3 million as its catatrosphe losses rose to $200 million for the first quarter of 2011. This compared to a $9.9 million profit for the same period last year. The re/insurer’s book value per share...
Apr 28, 2011
Other

"Aspen reports $151.7m loss "

Aspen Insurance Holdings Ltd this morning announced a net loss of $151.7 million in a first quarter in which the company shouldered more than a quarter of a billion dollars in catastrophe losses. The Bermuda re/insurer's after-tax earnings were hit b...
Apr 28, 2011
Other

"Delta to raise fares as fuel prices force $318m loss"

ATLANTA (AP) Delta Air Lines Inc said yesterday that raising fares should allow it to make up for the higher fuel prices that drove a $318 million loss in the first quarter. Delta president Ed Bastian said “aggressive fare actions” should allow it to...
Apr 27, 2011
International Business

"Nabors profit soars to $82m"

Nabors Industries Ltd’s profits rose more than doubled during the first quarter of 2011 - but the company expects to do even better in the next quarter according to its chairman and CEO. The Bermuda-based drilling firm reported net income of $82.2 m...
Apr 27, 2011
Reinsurance

"RenRe posts $248m loss on huge quake claims"

RenaissanceRe Holdings Ltd posted a net loss of almost $250 million during the first quarter after taking a combined $427.4 million hit from the New Zealand and Japanese earthquakes and Australian floods. The re/insurer made a net loss of $248 millio...
Apr 27, 2011
Reinsurance

"Arch posts a profit despite huge cat losses"

Arch Capital Group Ltd made a profit of more than $19 million in the first quarter despite booking catastrophe losses of nearly $180 million. The Bermuda-based re/insurer posted net income of $19.3 million, or 41 cents per share, compared to $210 mil...
Apr 26, 2011
Reinsurance

"Platinum posts $157m net loss"

Platinum Underwriters Holdings Ltd posted a net loss of $157.2 million first quarter after taking a near quarter billion dollar hit from catastrophes during the first three months of 2011. The insurer posted catastrophe losses of $248.1 million, net ...
Apr 20, 2011
Reinsurance

"Alterra shareholders advised to ditch KPMG-Bermuda"

NEW YORK (Bloomberg) Alterra Capital Holdings Ltd investors should reject the insurer’s plan to reappoint KPMG-Bermuda after a government accounting board faulted the auditor’s work, said Institutional Shareholder Services Inc. The proxy-advisory ser...
Apr 19, 2011
Reinsurance

"Scottish Re’s profits plunge $2 billion"

Scottish Re Group Ltd’s profits fell by more than $2 billion during 2010 due primarily to $242.2 million of net realised and unrealised gains on its invested assets. The re/insurer posted net income of $239.1 million or $1.09 per share for the year e...
Apr 18, 2011
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