April 2004/3

French insurer AXA has said that its 2003 profit measured by US GAAP accounting standards was EUR3.67bn ($4.5bn), compared to a EUR2.59bn loss in 2002 using the same standards.

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

Increasing global terror is hitting business confidence as a consequence of the rise in high-profile attacks, the rapidly deteriorating position in Iraq, and a proliferation of extremist terror groups, reveals broker Aon with today’s (13 April) launch of

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.