What’s New: In Brief (May 09, 2008)

Scott Wollney has been appointed president and CEO of Lincoln General Insurance Company following the retirement of John Clark.
Lisa Gelsomino has been appointed president of Avalon Risk Management, Inc., succeeding Scott Wollney.
Wollney was a co-founder of Avalon over 10 years ago, has over 18 years experience in transportation related and surety insurance and has been president of Avalon since 2002.
Lisa Gelsomino has been with the Kingsway group of companies for more than 18 years, joining Avalon during its formation in 1998.

SCOR has recorded a net income of EUR 124 million (approximately Cdn$193 million) in 2008 Q1, up 63% as compared to 2007 Q1 on a published basis.
The results are positively affected by a EUR 44 million (Cdn$68 million) reactivation of deferred tax assets, which demonstrates the ongoing positive contribution of the SCOR Global P&C entity in the United States, the company reports in a release.
The company reached an annualised return on equity (ROE) of 14.6%.
In the non-life sector, gross written premiums increased to EUR 736 million (Cdn$1.1 billion) in 2008 Q1 from EUR 474 million (Cdn$676 million) in 2007 Q1 an increase of 55% on a published basis, the company reports.
A combined ratio of 98.8% for non-life despite a quarter with above average natural catastrophes demonstrated “the strong underlying quality of the book and confirms the restored capacity of the Group to absorb medium-sized shocks within a given quarter and deliver stable earnings,” the company reports.