CX Re down
CX Re reported a loss of $13.5m for gross premiums written for 2003. The company...
CX Re downCX Re reported a loss of $13.5m for gross premiums written for 2003. The company experienced an increase in pre-tax profit loss of $93.9m for 2003 as opposed to its loss of $85.9m for 2002.
Aspen boostAspen Insurance, the property and casualty reinsurer, announced pre-tax profits of $115m for the first quarter of 2004, up from $22.3m for the first quarter of 2003. Gross written premiums for 2004 were $640m as opposed to $577m in 2003. Gross written premiums for the reinsurance segment were $558m for the first quarter of 2004, with a combined ratio of 61%. For the insurance segment, gross written premiums were $81.3m for the first quarter of 2004, with a combined ratio of 81%.
Advent record profitStrong underwriting performance and excellent trading conditions meant that Advent Capital Underwriting reported record pre-tax profits of £18.1m for its 2003 financial year. The company's profit increased by 33% from 2002 results and earnings per share are now 12.4p.
Windsor riseWindsor, the broking group, experienced a "strong first six months" for its results ending 31 March 2004. Pre-tax profits were up 17% to £1.37m from £1.17m in 2003. Brokerage was up by 13% to £8.45m from £7.5m in 2003. The company attributed its good performance to tight cost control, a favourable trading environment and increased capacity.