Company profile: Commercial Risk Re

Bermuda-based ART provider Commercial Risk Re reported consolidated net income of US$24mn for 2001, down by 6% on the previous year. Commercial Risk, which is a wholly owned subsidiary of French reinsurer Scor, said its result benefited from $15.5mn of realised investment gains which offset a rise in prior-year loss reserves. The latter development related primarily to the 1999 underwriting year.