April 2004/3

Cathedral managed Lloyd’s Syndicate 2010 had its ‘A-‘ (Excellent) rating affirmed by AM Best last Tuesday (7 April).

In the same week that Lloyd's posted earnings of £1,892mn, specialist London market insurer Kiln announced its own set of record annual profits. In a statement released on 6 April the insurer said pre-tax earnings for 2003 had reached £33.1mn, up from 200

Lloyd's last week announced record profits of £1,892mn on the back of a benign loss environment and high premiums. The profits, recorded on a pro-forma annual accounting basis, represent a 127 percent increase on 2002's figure of £834mn.

US insurer Chubb has raised doubts about its commitment to the London market with the news that it has sold its stake in Hiscox.