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ZUG, Switzerland (AP) — Swiss reinsurer Converium announced third-quarter net profits of US$54.3 million (euro42.75 million) yesterday, compared with a loss of US$6.9 million in the same period last year.“The results primarily reflect strong current-...

NEW YORK (Reuters) — Axis Capital Holdings Ltd. said yesterday its president and chief executive, embroiled in an expensive UK divorce, intends to sell shares in the Bermuda-based insurer from time to time.Proceeds from John Charman’s stock sales wil...

NEW YORK (Bloomberg) — Marsh & McLennan Cos., the world’s largest insurance broker, said vice chairman John Sinnott will retire at the end of the year after more than 43 years at the company.Sinnott, who was chairman of the company’s Marsh Inc. broke...

LONDON (Bloomberg) — Royal London Mutual Insurance Society Ltd., the UK's biggest customer-owned insurer, said sales rose 21 percent in the third quarter helped by pension products.New business rose to $1.57 billion ($2.98 billion), from $1.29 billio...

NEW YORK (Reuters) — Property and casualty carriers could be headed for another “boom and bust” cycle, even as they report record profits, a leading company and an industry adviser both warned yesterday.“I could make a strong case that we are standin...

LONDON (Bloomberg) — Lloyd's of London, the 300-year-old insurance market, said insurers should focus on profitable business at the expense of market share to overcome "weak" premium rates.Prices rose 2.9 percent on average in the first half and they...

LONDON (Reuters) — Ailing transport group Sea Containers said there was no need for the UK Pension Regulator to warn it may compel the firm to pay into UK retirement plans because the company is in talks with the funds. The regulator has warned Bermu...

MUNICH (Bloomberg) — Allianz SE, Europe’s biggest insurer, raised its forecast for 2006 profit after earnings doubled in the third quarter following fewer US hurricanes.Net income will probably rise to between 6 billion euros ($7.7 billion) and 6.5 b...

LONDON (Reuters) ? Ailing transport group Sea Containers said there was no need for the UK Pension Regulator to warn it may compel the firm to pay into UK retirement plans because the company is in talks with the funds. The regulator has warned Bermu...

BTC yesterday announced it is launching a new high speed phone line that will speed up delivery of Internet and e-mail to home users. But the Bermuda Computer Society warned that users will also have to contact their Internet Service Providers to upg...