Reinsurance

On Monday, A.M. Best upgraded its outlook on Ameriprise Financial Inc. (AMP) to ‘Stable’ from ‘Negative’. The rating agency also confirmed its issuer credit rating (ICR) at ‘aa-’ and financial strength rating (FSR) at ‘A+’ for the company’s primary life insurance subsidiaries − RiverSource Life...

Deutsche Bank is out with a report, where it initiates a “buy” rating on shares of Everest Re (NYSE: RE); it has also set a price target of $92.00 on the stock. Analysts noted that RE’s stock bottomed out in early June, amidst market speculation of unfavorable development from the Chile quake...

Deutsche Bank has initiated coverage of Transatlantic (NYSE: TRH) with a "buy" rating and a price target of $53.00. The analysts at Deutsche Bank noted, “The company's unique status as a pure-play onshore U.S. reinsurer remains its greatest differentiator. If protectionist legislative were signed...

Everest Re Group, Ltd. (NYSE: RE) announced today that its Board of Directors declared a dividend of $0.48 per share payable on or before September 15, 2010 to all shareholders of record as of September 1, 2010. Everest Re Group, Ltd. is a Bermuda holding company that operates through multiple...

In an attempt to return value to its investors, the board of RenaissanceRe Holdings Ltd. (RNR) approved the expansion of its stock repurchase program to a total current authorization of approximately $500 million. This authorization includes $375.1 million available under earlier authorizations,...

We have recently upgraded RLI Corp. (RLI) to Outperform from Neutral as we believe the company will benefit from its diversification into crop and other assumed property reinsurance. Extensive product offerings, strong local branch network and focus on specialty insurance lines are expected to aid...

Wunderlich Securities is raising earnings estimates on Maiden Holdings, Ltd. (NASDAQ: MHLD) after the company reported much better than expected earnings yesterday. It rates shares of Maiden Holdings at Buy and has a $9 price target. In a note to its clients Wunderlich Securities writes, "Maiden...

Hartford Financial Services Group Inc. (HIG) reported its second-quarter adjusted earnings of $460.0 million or 92 cents per share, surpassing the Zacks Consensus Estimate of 73 cents. The improved showing in Hartford was attributable to higher profits despite market volatility and higher-than-...

PartnerRe Ltd. (NYSE: PRE) today reported net income of $190.9 million, or $2.31 per share on a fully diluted basis for the second quarter of 2010. This net income includes net after-tax realized and unrealized gains on investments of $29.7 million, or $0.38 per share. Net income for the second...

Keefe, Bruyette & Woods is out with a research report this morning, where it reiterates its Market Perform rating on Montpelier Re Holdings LTD (NYSE: MRH); it has a $19.00 price target on the stock. The KBW analysts said, “Results beat on better current and prior year profitability, a lower...

Transatlantic Holdings Inc. (NYSE: TRH) reports Q2 earnings of $1.70 versus estimates of $1.68. Transatlantic Holdings Inc. reports Q2 revenues of $1.1 billion versus $996.60 million. Net premiums written were $947.6 million, declining 4% year over year, excluding the impact of foreign exchange....

Veeco Instruments Inc. (NYSE: TRH) reports Q2 earnings of $1.01 versus estimates of $0.83. Veeco Instruments Inc. reports Q2 revenues of $253 million versus $232 million. Revenues increased 251.4% year over year. The company issued upside guidance for Q3 as well; it now sees EPS of $1.23 to $1.43...

Arch Capital Group Ltd. (NASDAQ: ACGL) reports Q2 earnings of $2.48 versus estimates of $2.28. The company’s book value per common share was $82.07 as of June 30th, which is a 6.7% increase, from $76.91 per share, as of March 31st. This is a 12.4% increase, from $73.01 per share, as of December...

Attention may focus on the EU bank stress tests while another banking disaster unfolds away from the spotlight. MSM have so far ignored last week's revelations that UK net public debt quadrupled to £4 Trillion. Badly needed austerity will now also hit the banks, reports the Telegraph, quoting from...

Platinum Underwriters Holdings (NYSE: PTP) released financial results late Tuesday that far exceeded Wall Street's earnings estimates. Platinum Underwriters Holdings (PTP) reported that its 2nd quarter net income rose 26.5% to $124.1 million, or $2.68 per share, up from $98.1 million, or $1.90 per...