The haves and the have-nots…
Chaucer admits to capital shortfall. Who might follow?
Generally speaking, raising money from shareholders is about as popular right now as a cup of Darjeeling in Starbucks, so it's a good thing that investors are still willing to look at the insurance sector.
A combination of investment and underwriting losses, ambitious 2009 growth plans and a collapsing pound is stretching capital requirements - not least on Lime Street where (re)insurers are particularly keen to exploit the much-predicted new underwriting opportunities...
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