Bermuda (ots/PRNewswire) - - Alea Comprehensive Reserve Study Completed In-Line With Expectations Reserve study - Comprehensive reserve study completed in-line with guidance of 5-7 point second half increase in combined ratio (H1 2004: 95.7%) - Reserve increases of $72.5 million in the second half (H1 2004: $21.2 million; 2003: $19.2 million) add 6.1 ...
Bermuda (ots/PRNewswire) - Alea Group Holdings (Bermuda) Ltd., the specialty insurer and reinsurer, today announces the estimated impact on earnings of recent hurricane activity in the United States and the Caribbean. Hurricanes Charley, Frances, Ivan and Jeanne have resulted in one of the most active storm seasons in the region ever recorded. The ultimate cost of these four hurricanes is estimated at approximately ...
Bermuda (ots/PRNewswire) - Alea Group Holdings (Bermuda) Ltd., the global specialty insurance and reinsurance company, announced today that it appointed Keith F. Anderson as Senior Vice President, Corporate Marketing and Communications. "As Alea Group's presence in the global insurance marketplace increases, communications with our many constituents ...
London (ots) - Alea Group Holdings (Bermuda) Ltd. ("Alea", or "the Group"), the global reinsurance and specialty insurance company, announced today that it has named Kirk H. Lusk as Group Senior Vice President, Strategic Planning and Corporate Development. "We are delighted to welcome Kirk to Alea," said ...
Bermuda (ots) - Alea Group Holdings (Bermuda) Ltd. ("Alea" or "the Group"), the global reinsurance and specialty insurance company, today announced the promotion of Mark L. Ricciardelli from Group President and Chief Operating Officer to Group President and Chief Executive Officer with immediate effect. Mr. ...
London (ots) - On 23 March 2004 Alea Group Holdings (Bermuda) Ltd. bought 19,540 of its own common shares for cancellation at a price of 257p each. The repurchase is made pursuant to a call right contained in a set of contractual arrangements agreed with former employees, which are fully disclosed within the Listing Particulars. There are 174,679,095 common shares in issue following this repurchase. George P. Judd Company Secretary, Alea Group Holdings ...
Alea Group Names Mark L. Ricciardelli President and Chief Operating Officer Veteran Reinsurance Executive Brings Significant Operating and Global Casualty Expertise to Alea London (ots) - Alea Group Holdings (Bermuda) Ltd. (Alea Group), the global reinsurance and specialty insurance company, announced today that it has named Mark L. Ricciardelli as Group President and Chief Operating Officer, effective immediately. Mr. Ricciardelli was most recently ...
London (ots) - 5. CONTINGENT LIABILITIES Structured settlements The Group, through the Canadian branch of Alea Europe Ltd, has assumed ownership of certain structured settlements and has purchased annuities from life assurers to provide fixed and recurring payments to those underlying claimants. As a result of these arrangements, the Group is exposed to ...
London (ots) - Unaudited Consolidated cash flow statement Restated Year ended Year ended Notes 31 Dec 03 31 Dec 02 ...
London (ots) - Interest on bank borrowings under the Term "A" loan and the Revolving Credit Facility is charged at a rate per annum according to applicable currency LIBOR rates designated as the British Bankers Association interest settlement rate plus a margin of ) 0.625% (2002 0.625%). The margin charged on the Term "B" loan is 3.25% (2002 3.25%). The ...
London (ots) - Interest on bank borrowings under the Term "A" loan and the Revolving Credit Facility is charged at a rate per annum according to applicable currency LIBOR rates designated as the British Bankers Association interest settlement rate plus a margin of ) 0.625% (2002 0.625%). The margin charged on the Term "B" loan is 3.25% (2002 3.25%). The ...
London (ots) - FINANCE DIRECTOR'S REPORT Performance Management The highlights of the consolidated financial statements are as follows: Summary of results 2003 2002 $ million Gross premiums written 1,300.2 931.6 Net premiums earned 858.5 518.1 Underwriting profit ...
London (ots) - On the closing of the Imperial acquisition in 2000, the Group reinforced the reserve strengthening of the Imperial business by entering into the OPL (see Finance Director's Review). Since that date there continues to be immaterial development of these reserves. Total loss reserves covered by the OPL contract increased to $87.1 million compared to ...
LONDON (ots) - Alea Group Holdings (Bermuda) Ltd. (Alea Group),the global reinsurance and specialty insurance company, is pleased to announce that A.M. Best has assigned a group rating of A- (Excellent) to Alea North America Specialty Insurance Company (Alea Specialty), a wholly owned US subsidiary of Alea. A.M. Best said the group rating reflects Alea Specialty's core status within Alea. The insurance rating and ...
London (ots) - Alea Group Holdings (Bermuda) Ltd., the global reinsurance and specialty insurance company, will be announcing full year results for the year ended 31st December 2003 on Monday 15 March 2004. A presentation for analysts and investors will be held at 9.30am at The City Presentation Centre, 4 Chiswell Street, Finsbury Square, London EC1Y 4UP. For those unable to attend the meeting in person, remote ...