Driven by its reinsurance unit, Willis posted strong results for the first quarter of 2014 with both its revenues and profits increasing. The company also announced a plan to deliver substantial cost savings across the business over the next four years.
Xchanging, the business, procurement and technology services provider, has agreed a three-year claims processing contract to support its Lloyd’s customers.
SCOR Global P&C (SGPC), the global property/casualty division of SCOR, has said it enjoyed premium growth of 8.5 percent in the recent April renewals. Some 10 percent of its portfolio was renewed representing around €318 million with the main countries renewing being Japan, India and the US.
Cathedral Underwriting has expanded its Lloyd’s specialty business with the hire of four aviation underwriters from rival Atrium.
US insurer The Hartford has posted exceptional results for the first quarter of 2014 with growth in most lines and vastly improved profits despite some losses from recent severe US weather events.
Generali has said the success of its recent catastrophe bond shows that investors appreciate the company’s recent moves to streamline its balance sheet and ensure long-term profitability. The bond also provides it with more flexibility and diversity of capital, the Italian insurer said.
PartnerRe has reported strong first quarter results posting solid growth and higher profits compared with the same period last year as it starts to enjoy the fruits of its recent strategic diversification, its CEO said.
CNA Financial posted a vastly depleted net profit in its first quarter results largely on the back of an estimated after-tax impairment loss of $214 million relating to its sale of its run-off annuity and pension deposit business Continental Assurance Company (CAC).
Boosted by a good performance by reinsurer Sirius, White Mountains Insurance Group, the parent of Sirius, posted solid first quarter results. Despite what it described as competitive reinsurance conditions, Sirius enjoyed improved profits compared with the same period the year before.
CNA Financial Corporation has appointed Timon Mueller, formerly of Allianz, as vice president of international.