April 2006/2

As the hurricane season raged last year, Lloyd's proudly revealed that it had made a £1.38bn profit in the first half of 2005. The impact of hurricanes Katrina, Rita and Wilma (KRW) was unlikely to see the performance sustained, but the Society's...

Regulation doesn't benefit clients and only threatens profitability, according to a survey of insurance brokers conducted by accountancy and advisory firm Mazars. The findings, published last Thursday (6 April), reveal that the majority of brokers...

Talanx's proposed acquisition of the German insurer Gerling Group has been approved by the European Commission - but only if it spins-off its pharmaceutical liability insurance operations. Following the announcement last year of the agreed sale...

Reinsurance broker Carvill has published details of a new index to measure hurricane damage, the Hurricane Damage Potential Index (HDPI). Carvill says that the HPDI will give a more accurate measure of a hurricane's potential to cause damage than...

Bermudian giant XL Capital is to float its financial guaranty business in an initial public offering (IPO) on the New York Stock Exchange, the (re)insurer revealed in a statement on 7 April. Funds raised will be used to boost capital and to...

UK-listed broker Jardine Lloyd Thompson Group plc (JLT) revealed on 5 April that Dominic Collins, executive chairman of its JLT Risk Solutions division, has resigned after more than 20 years with the company. The move follows plans for a restructure...

Ratings agency Standard & Poor's (S&P) announced on 5 April that it has revised its outlook on the reinsurance sector from negative to stable. S&P placed the reinsurance industry on negative outlook on 28 September last year in the aftermath of...

The G6 group of Lloyd's insurers announced last Wednesday that it has agreed new electronic processes with four major brokers using the internationally recognised ACORD data standards. The G6 or "gang of six" comprises an alliance between...