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Arch Capital Group increased its gross premiums written during the first quarter but saw its profits fall. The net income available to common shareholders was $149.3 million, down from $277 million for the same period last year. That result, which eq...

XL Group’s first-quarter earnings missed Wall Street estimates as increases in catastrophe losses and integration costs hit results. The business insurer’s operating earnings were $103.4 million, or 35 cents per share, down from the $194.4 million XL...

Jonathan Kent, Business Editor Bermudian reinsurer RenaissanceRe Holdings Ltd’s first-quarter profit fell by nearly a quarter as it increased reserves by more than $20 million in its specialty reinsurance segment. RenRe said net income for the Januar...

BF&M Ltd has announced the first share buyback programme in the company’s history at a time when the company is trading at little more than half of its book value. The programme, authorised by the insurer’s board of directors, will enable BF&M to buy...

Axis Capital Holdings saw its profit fall to $38 million during the first three months of the year. That was $118 million less than it reported for the same period last year. However, the company increased its gross written premiums by 17 per cent to...

Insurer and reinsurer Axis is to move into the nursing home professional liability market. The company said that an ageing population meant the sector would increase in importance. Axis Healthcare, its specialist healthcare insurer, has hired two new...

Butterfield Bank’s profit for the first three months of the year was $26.8 million, down $1.2 million year-on-year. However, the bank’s core earnings — which strips out one-off items — were $36 million, an improvement of $7 million compared with the ...

NEW YORK (Bloomberg) — XL Group, which plans to redomicile to Bermuda this year, hired former Zurich Insurance Group executive Dan Riordan as president of a new unit that guards commercial clients against risks that political tension could disrupt in...

AM Best has affirmed the ratings of Bermudian insurance group Argus. The agency gave Argus Insurance and Bermuda Life Insurance Company a financial strength rating of B++. “The ratings affirmations reflect the Argus Group’s consolidated positive earn...

Insurance captive manager Marsh IAS has appointed a new chairman and head of office. Jill Husbands has taken over as chairman, while Lawrence Bird has become head of office. Ms Husbands will focus on strategic growth client relations and will continu...

Major building projects in the US would boost the economy and demand for insurance and reinsurance. Kevin Kelley, the chief executive officer of Bermuda-based Ironshore, said poorer-than-expected economic performance in key regions had led to a weake...

Bermudian-based insurer and reinsurer Endurance has announced investment losses of $28 million. The company — due to announce its first-quarter results next month — said it expected its net investment income for the period to be $11 million. An Endur...