April 2006/5

UK insurer Royal & Sun Alliance (R&SA) last Thursday (20 April) announced plans to swap its US dollar subordinated bonds - so-called "Yankee Bonds" - for sterling perpetual guaranteed bonds to boost regulatory capital. Under the FSA's prudential...

Shares in Lloyd's insurer Brit Insurance Holdings plc climbed to 98.5 pence on 18 April following an upgrade to BUY from analyst and house broker Numis Securities. In a research note, Numis analyst Nicholas Johnson said: "Brit's shares enjoyed a...

Companies that fail to plan strategically and operationally for the effects of climate change face a loss of brand reputation as "climate change villains", according to a new report from broking giant Marsh.

Lloyd's of London has announced the appointment of Ian Faragher as chief operating officer for its new Chinese onshore reinsurance operation in Shanghai. Director of worldwide markets, Julian James welcomed the appointment: "Ian brings with him...

HSBC Insurance Brokers have appointed the former KPMG executive Alexander Pohl to its Corporate Finance Division. Pohl, who spent five years with the accountancy giant advising clients on financial, commercial and environmental issues arising from...

The run-off acquisitions firm LCL Acquisitions Ltd has completed its ownership of the Isle of Man insurance administration firm FIT Administration (IoM) Ltd. LCL - which was itself acquired by the London Stock Exchange quoted...

Despite recent negative comments from analysts on the performance of its banking arm, Allianz received a boost from Standard & Poor's (S&P) last week, as the agency upped its outlook on the insurer to positive and affirmed its AA- financial strength...

Lloyd's insurer Amlin has conditionally agreed to raise £230mn through a long-term debt issue in order to refinance its expansion into Bermuda. Amlin intends to use the two-tier subordinated notes in order to refinance existing loans and letters of...

Maurice Sabbah, a co-founder of the controversial aviation reinsurance pool Fortress Re, died last week at the age of 77. Sabbah, together with the colourful Kenny Kornfeld, became a dominant force in aviation reinsurance through its North-Carolina...

A repeat of the 1906 San Francisco earthquake could total $80bn in insured losses, according to catastrophe modelling firm Risk Management Services (RMS). RMS analysed the effects that an earthquake with a magnitude of 7.9 on the Richter scale would...

Arthur J Gallagher was the first of the major brokers to publish its first quarter 2006 results last week - setting a scene of competitive trading conditions likely to be followed by its rivals over the next few weeks.

Lloyd's insurer SVB is on course to executive its restructuring plan after its proposed scheme of arrangement to introduce a new listed holding company, Novae Group plc, was approved in a court ordered meeting today (24 April).