2353 results returned for search: "" category "Other" author Jonathan Kent
Bermuda reinsurer Everest Re Group Ltd. reported a net loss of $16.6 million for the fourth quarter as investment income plunged by more than half compared to the same period a year earlier.
Revenues also fell as gross premiums written fell 15 percen...
DATE: Feb 12, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda reinsurer RenaissanceRe Holdings Ltd. made a net loss of $55.2 million in the fourth quarter of 2008 as investment losses wiped out underwriting profits.
The loss broke down to 91 cents per share, compared to net income of $62.2 million, or 8...
DATE: Feb 12, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
XL Capital shares soared 61 percent yesterday as investors saw value in strong underwriting results and looked beyond the company's $2.6 billion net loss in 2008.
Despite a traumatic year for the company, in which it lost billions of dollars through ...
DATE: Feb 12, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Almost 40 staff face losing their jobs at the Bermuda headquarters of insurer XL Capital this year, as the company looks to cut costs after losing $2.6 billion in 2008.
XL chief executive officer Michael McGavick told The Royal Gazette that a consult...
DATE: Feb 12, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
XL Capital Ltd. made a net loss of $1.43 billion in the fourth quarter of 2008, cut its dividend payout to shareholders by almost half and plans to cut its global workforce by 10 percent.
The announcements came in the Bermuda-based insurer's earnings...
DATE: Feb 11, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda's international insurers took a battering on the stock market yesterday after new US Treasury Secretary Tim Geithner's announcement of a $2 trillion financial rescue plan failed to inspire investors' confidence.
Every one of the US-listed Ber...
DATE: Feb 11, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Almost 40 staff face losing their jobs at the Bermuda headquarters of insurer XL Capital this year, as the company looks to cut costs after losing $2.6 billion in 2008.
XL chief executive officer Michael McGavick told The Royal Gazette that a consult...
DATE: Feb 11, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Swiss Re is to close its Bermuda office with the loss of five jobs as the company seeks to cut costs.
The office, which is located on the fourth floor of Mintflower Place on Par-la-Ville Road, will be effectively shut down by the end of June this yea...
DATE: Feb 10, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda-based insurer Axis Capital Holdings Ltd. yesterday announced net income for the fourth quarter of $131 million — a fall of 57 percent compared to the previous year.
But despite losses of around $408 million attributed to claims from hurricane...
DATE: Feb 10, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
Bermuda should not be fearful of the new Obama administration in the US despite the threats of tax law changes and protectionism that could be harmful to the Island's economy, according to BIBA chief executive officer Cheryl Packwood.
Instead, Bermud...
DATE: Feb 06, 2009
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CATEGORY:
Other
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AUTHOR:
Jonathan Kent
