| Business Summary | | IPC
Holdings,
Ltd.,
through
its
wholly
owned
subsidiary,
IPCRe
Limited,
provides
reinsurance
of
property
catastrophe
risks
worldwide,
substantially
all
on
an
excess-of-loss
basis.
The
Company
also
provides,
to
a
limited
extent,
marine,
aviation,
property-per-risk
excess
and
other
short-tail
property
reinsurance.
During
2000,
approximately
85%
of
gross
premiums
written
covered
property
catastrophe
risks.
Property
catastrophe
reinsurance
covers
unpredictable
events
such
as
hurricanes,
windstorms,
hailstorms,
earthquakes,
volcanic
eruptions,
fires,
industrial
explosions,
freezes,
riots,
floods
and
other
man-made
or
natural
disasters.
As
of
January
1,
2001,
the
Company
had
approximately
213
clients.
Approximately
42%
of
gross
premiums
written
during
2000
related
primarily
to
United
States
risks.
Its
non-United
States
clients
and
covered
risks
are
located
principally
in
Europe,
Japan
and
Australia/New
Zealand. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | IPC
Holdings
is
primarily
engaged
in
property
catastrophe
reinsurance;
and
also
provides
marine,
aviation,
property-per-risk
excess,
and
other
short-tail
property
reinsurance.
For
the
six
months
ended
6/30/01,
total
revenues
rose
12%
to
$69.4
million.
Net
income
rose
from
$13.3
million
to
$44.7
million.
Revenues
reflect
increases
in
premium
rates
and
net
realized
investment
gains.
Net
income
also
reflects
the
absence
of
losses
from
the
European
storms
and
Typhoon
Bart. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Joseph Johnson, 63 Chairman
of the Company and IPCRe | -- | James Bryce, 52 Pres,
CEO | $616K | John Weale, 42 CFO,
VP of the company and IPCRe | 304K | Dennis Higginbottom, 52 VP
and Sec. of the Company and IPCRe | 331K | Peter Cozens, 53 VP-
Underwriting of IPCRe | 447K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|