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  • On August 14, Reliance Group Holdings announced a second quarter loss of $504.5mn, reducing the company’s reported shareholders’ equity to $455mn (down from $1.03bn at year end). As of June 30, 2000, Reliance Group had $735.1mn of debt, including $237.5mn
  • Scotch mist descends on agents One may expect that among the dwindling breed of Lloyd’s members’ agents a spirit of co-operation and goodwill would triumph over the divisive edge of corporate egos. But not so. Agents’ futures lie in persuading Lloyd’s
  • Struggling reinsurer puts Lime Street at centre of revival strategy European Specialty Group Re Ltd, the Bermudian based, NASDAQ quoted accident and health and medical reinsurer, is looking to Lloyd’s as it attempts to reinvent itself after a successi
  • AHP new treaty division Agnew, Higgins & Pickering, the natural resources Lloyd’s broker created two years ago, is forming a treaty reinsurance division. Simon Samson has been recruited from AHP’s parent company Jardine Lloyd Thompson to head the ne
  • Aegon Aegon’s chief executive Kees Storm has been busy quashing rumours that the company is about to join the bidding for US health insurer Aetna. ING is already talking to Aetna about buying its financial and international units but Allianz, Aegon, Am
  • Perhaps it’s a sign of the impending silly season, but talk is reverting to consolidation. Even the hard-pressed Lloyd’s vehicles are showing signs of life in the wake of QBE’s Limit purchase...
  • Time magazine changes its tune over the ‘Trial of the Century’, Russell English falls out with Trenwick and Bradstock gets cuddly with yet another potential buyer
  • Lloyd’s faces criticism for the loadings placed on syndicates Fresh from the Council of Lloyd’s announcement that underwriting ratios are to be reduced by 5% to 40% for all fund providers, and the abolition of “other personal wealth” provisions in the
  • Lloyd’s Auction 2 saw a gentle pick up of average prices, but buyers are still more reluctant than in past years.
  • The Lloyd’s chairmanship goes part-time, with Max Taylor stepping down Gone are the days when the prestige Chair of Lloyd’s could guarantee plenty of time to play golf with the chaps, and a nighthood for your troubles. By returning the role to a part-