April 2007/5

AXA is set to securitise a further portion of its motor portfolio some 18 months after its landmark FCC Sparc transaction.

Japan’s improving economy has sparked an upgrade in the financial strength and debt ratings of Tokio Marine & Nichido Fire Insurance Co Ltd from AA- to AA.

Last week’s shock decision by Standard & Poor’s (S&P) to downgrade IPCRe from A to A- has been questioned in some quarters and sent out a strong message to peers with a focus on volatile catastrophe reinsurance business.

David Shipley, one of Lloyd’s leading underwriters, has stepped down from the syndicate he founded in 2000.

Standard & Poor's (S&P) decision to upgrade Lloyd's to A+ will surprise few people but it will still be a significant fillip to both the Corporation’s senior management and the insurers who underwrite through the market.