April 3rd, 2009

Week’s Top Stories: Mar 28 - Apr 3, 2009

Posted at 4:00 PM ET

Bermuda Reinsurance Composite Net Loss of USD6.6bn: The Guy Carpenter Bermuda Reinsurance Composite posted an aggregate net loss of USD6.6 billion for full-year 2008. This represents a precipitous drop from 2007’s net gain of USD8.6 billion.

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European Reinsurance Composite Posts USD7.5bn Loss: Net income dropped USD22.4 billion year-over-year to a loss of USD7.5 billion for the Guy Carpenter European Reinsurance Composite for full-year 2008. In 2007, the composite posted aggregate net income of USD14.9 billion. Total return on equity (ROE) fell to -9 percent.

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2008 Catastrophe Update: A record-setting Atlantic hurricane season and above-average manmade catastrophe losses put 2008 among the costliest years on record. While the economic downturn dominated the headlines throughout the year, lurking in the shadows was one of the most active hurricane seasons on record.

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Shareholders’ Funds Down 15% for Bermuda Reinsurance Composite: Aggregate shareholders’ equity for the Guy Carpenter Bermuda Reinsurance Composite fell 15 percent in 2008 - from USD62 billion to USD52 billion.

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Shareholders’ Funds Down 18% for Global Reinsurance Composite: Shareholders’ funds for 16 of the 20 companies in the Guy Carpenter Global Reinsurance Composite are down 18 percent from year-end 2007 to year-end 2008.

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Most Popular Keyword: Guy Carpenter Bermuda Reinsurance Composite

And, you may have missed …

USD6.1bn for Global Reinsurance Composite: With data for 16 of the 20 companies in the Guy Carpenter Global Reinsurance Composite available, an aggregate loss of USD6.1 billion has emerged. This stands in stark contrast to 2007’s aggregate net income of USD18.4 billion.

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