Willis Group Holdings reports first-quarter net income dropped 4 percent over the same period last year on a pre-tax charge of $46 million related to the companys reorganization that eliminated 207 positions.
Two Bermuda reinsurers reported sharply different earnings as PartnerRe says first quarter net income fell 35 percent on investment declines while Arch Capital Group saw its net income grow 56 percent as its reinsurance business grew.
CNA says rate increases helped push net operating income up by 2 percent for Q1 2013. Net income remained unchanged compared to last year's first quarter at $250 million
Selective Insurance Group CEO Gregory Murphy says the insurance industry needs to increase rates for as long as low interest rates continue to hurt investment yields.
Selective Insurance Group CEO Gregory Murphy says the insurance industry needs to increase rates for as long as low interest rates continue to hurt investment yields.
The Chubb Corp. posted record first quarter results as net income increased 30 percent on the strength of higher rates, strong underwriting performance and low catastrophe losses.