Sirius International Insurance Group, Ltd. (SG) 2002年年度报告「NASDAQ」.pdf

1、SIRIUS INTERNATIONAL INSURANCE CORPORATION ANNUAL REPORT 20021The way we respondedto the setbacks that theentire industry enduredin 2001 is a tribute tothe motivation andcapabilities of our staff,who rose admirably tothe challenges that wefaced.Annual Report 200229010011012013020022001200019991998%W

2、orld reinsurance industrySource:Standard&Poors,Global Reinsurance Highlights 2002Sirius Group98104101113103114119128101107 estimatedGroupUS$in millions20022001Gross premium income680823Insurance operating result13-120Investment operating result347Income before tax11-76Net income for the year2-54Comb

3、ined ratio101%119%Solvency capital1,034876Solvency ratio183%124%Number of employees197200A.M.Bests rating:A(excellent)Standard&Poors rating:A-(strong)Combined ratioSirius Group compared with world reinsurance industryAnnual Report 20023n the previous annual report I made apositive assessment of Siri

4、us Interna-tionals prospects,despite reporting theonly trading loss in our history.It was myview that the company had performedcreditably in what had been a terrible yearfor the whole reinsurance industry;that wehad continued to demonstrate the strengthof our internal controls and the quality ofour

5、underwriting.Following a good re-newal season,I forecast an immediatereturn to profit.Events have,I believe,justified thisconfidence.2002 produced our best-everunderwriting result,enabling us to morethan recover the losses sustained from theWorld Trade Center in 2001.The mostrecent renewal season ha

6、s laid the founda-tions for another promising underwritingyear in 2003.With the acquisition of SiriusAmerica,we have maintained our strategyof measured,profitable growth into newmarkets.A consistently good underwritingperformance2002 was a year of recovery for thereinsurance industry worldwide based